Loomis Sayles & Co. L P Increases Position in Prologis, Inc. (NYSE:PLD)

Loomis Sayles & Co. L P raised its position in shares of Prologis, Inc. (NYSE:PLD) by 9.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,346 shares of the real estate investment trust’s stock after buying an additional 113 shares during the period. Loomis Sayles & Co. L P’s holdings in Prologis were worth $142,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PLD. NEOS Investment Management LLC grew its position in Prologis by 31.5% in the 4th quarter. NEOS Investment Management LLC now owns 56,655 shares of the real estate investment trust’s stock valued at $5,988,000 after acquiring an additional 13,587 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of Prologis by 4.6% in the fourth quarter. UniSuper Management Pty Ltd now owns 319,821 shares of the real estate investment trust’s stock valued at $33,805,000 after purchasing an additional 14,159 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Prologis by 8.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,090,875 shares of the real estate investment trust’s stock valued at $220,859,000 after purchasing an additional 155,768 shares in the last quarter. Tyler Stone Wealth Management grew its holdings in shares of Prologis by 19.2% in the fourth quarter. Tyler Stone Wealth Management now owns 2,612 shares of the real estate investment trust’s stock valued at $276,000 after purchasing an additional 421 shares in the last quarter. Finally, Mendel Money Management increased its stake in Prologis by 2.5% during the 4th quarter. Mendel Money Management now owns 4,644 shares of the real estate investment trust’s stock worth $491,000 after buying an additional 114 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by company insiders.

Prologis Stock Performance

Shares of PLD stock opened at $110.37 on Monday. The stock’s 50-day moving average is $117.74 and its two-hundred day moving average is $116.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The firm has a market cap of $102.29 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.66%. Prologis’s payout ratio is 101.00%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLD. Scotiabank decreased their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Mizuho reduced their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, BTIG Research decreased their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.