Prologis, Inc. (NYSE:PLD) Shares Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 8.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,010 shares of the real estate investment trust’s stock after acquiring an additional 154 shares during the period. First Citizens Bank & Trust Co.’s holdings in Prologis were worth $212,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Street Corp raised its holdings in Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after buying an additional 767,609 shares during the period. Geode Capital Management LLC increased its position in shares of Prologis by 0.9% in the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after acquiring an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Prologis by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after purchasing an additional 441,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares during the period. Finally, Janus Henderson Group PLC grew its position in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after purchasing an additional 2,138,693 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on PLD shares. BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Royal Bank of Canada upped their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday. Mizuho decreased their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $128.72.

Prologis Price Performance

Shares of Prologis stock opened at $120.23 on Wednesday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The firm has a fifty day simple moving average of $110.63 and a 200-day simple moving average of $118.41. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $111.35 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 3.19 and a beta of 1.09.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

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.