Prologis, Inc. (NYSE:PLD) Shares Acquired by PGGM Investments

PGGM Investments raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 29.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,169,612 shares of the real estate investment trust’s stock after acquiring an additional 717,172 shares during the quarter. Prologis makes up 6.4% of PGGM Investments’ investment portfolio, making the stock its biggest holding. PGGM Investments’ holdings in Prologis were worth $422,509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PLD. Thompson Investment Management Inc. acquired a new stake in shares of Prologis in the 4th quarter valued at about $28,000. FinTrust Capital Advisors LLC boosted its position in shares of Prologis by 966.7% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 232 shares during the period. Salem Investment Counselors Inc. acquired a new stake in shares of Prologis in the 4th quarter valued at about $37,000. FNY Investment Advisers LLC acquired a new stake in shares of Prologis in the 4th quarter valued at about $39,000. Finally, Valley National Advisers Inc. boosted its position in shares of Prologis by 178.6% in the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 250 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Mizuho reissued a “neutral” rating and issued a $130.00 target price on shares of Prologis in a research report on Tuesday, April 2nd. Argus decreased their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Royal Bank of Canada increased their price objective on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. UBS Group decreased their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Robert W. Baird increased their price objective on Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.24.

Prologis Price Performance

NYSE PLD traded up $0.71 during mid-day trading on Friday, hitting $104.06. The stock had a trading volume of 4,037,744 shares, compared to its average volume of 4,340,292. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a market cap of $96.26 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 2.15 and a beta of 1.00. The company has a 50 day simple moving average of $125.06 and a 200 day simple moving average of $121.86. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a $0.96 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.