Ieq Capital LLC Grows Stake in Prologis, Inc. (NYSE:PLD)

Ieq Capital LLC grew its holdings in Prologis, Inc. (NYSE:PLD) by 0.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 34,703 shares of the real estate investment trust’s stock after buying an additional 103 shares during the quarter. Ieq Capital LLC’s holdings in Prologis were worth $3,668,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 buying an additional 8,545,336 shares during the period. Janus Henderson Group PLC lifted its holdings in Prologis by 145.0% in 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 buying an additional 2,138,693 shares during the period. AMF Tjanstepension AB lifted its stake in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the period. Cardano Risk Management B.V. purchased a new position in shares of Prologis in the 3rd quarter valued at approximately $109,579,000. Finally, Jennison Associates LLC lifted its stake in shares of Prologis by 395.3% in the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock valued at $109,858,000 after purchasing an additional 829,504 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.1 %

Prologis stock opened at $121.01 on Friday. The firm has a market cap of $112.16 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.10. The stock has a fifty day simple moving average of $112.56 and a two-hundred day simple moving average of $118.01. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a $1.01 dividend. 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 dividend on an annualized basis and a dividend yield of 3.34%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PLD. Mizuho lowered their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. UBS Group raised their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Truist Financial raised their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Company Profile

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.