Alliancebernstein L.P. Purchases 30,985 Shares of Prologis, Inc. (NYSE:PLD)

Alliancebernstein L.P. lifted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 0.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,496,280 shares of the real estate investment trust's stock after buying an additional 30,985 shares during the period. Alliancebernstein L.P. owned approximately 0.38% of Prologis worth $369,557,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Principle Wealth Partners LLC raised its position in Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock worth $349,000 after acquiring an additional 92 shares in the last quarter. Black Diamond Financial LLC raised its holdings in shares of Prologis by 2.2% in the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock worth $449,000 after purchasing an additional 93 shares in the last quarter. Berkshire Bank lifted its stake in Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock valued at $443,000 after purchasing an additional 95 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in Prologis by 22.3% during the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 102 shares during the last quarter. Finally, Bridgewater Associates LP boosted its holdings in Prologis by 4.0% during the third quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust's stock worth $338,000 after buying an additional 103 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

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Prologis Stock Down 9.7 %

Shares of Prologis stock traded down $10.92 during trading on Thursday, hitting $101.43. 7,612,428 shares of the stock traded hands, compared to its average volume of 3,940,799. The company has a fifty day moving average price of $117.61 and a two-hundred day moving average price of $115.95. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The stock has a market cap of $94.01 billion, a P/E ratio of 25.36, a PEG ratio of 2.70 and a beta of 1.09. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid 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 of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.98%. Prologis's dividend payout ratio is 101.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PLD shares. Mizuho cut their price objective on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a report on Friday, January 17th. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. UBS Group boosted their price objective on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Finally, Truist Financial raised their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Prologis has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction 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. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by 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.