Mitsubishi UFJ Trust & Banking Corp Has $52.27 Million Stake in Prologis, Inc. (NYSE:PLD)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 19.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 494,523 shares of the real estate investment trust’s stock after selling 119,479 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Prologis worth $52,272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crowley Wealth Management Inc. bought a new position in Prologis in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in shares of Prologis during the fourth quarter valued at $30,000. Dunhill Financial LLC boosted its holdings in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in Prologis in the fourth quarter worth about $34,000. Finally, Promus Capital LLC bought a new stake in Prologis during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 0.9 %

PLD stock opened at $109.32 on Wednesday. The business has a 50-day moving average of $117.66 and a 200-day moving average of $116.67. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The stock has a market capitalization of $101.32 billion, a P/E ratio of 27.33, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PLD shares. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, UBS Group increased 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Activity

In other Prologis 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 sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

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.