Allianz SE Acquires Shares of 108,835 Prologis, Inc. (NYSE:PLD)

Allianz SE bought a new stake in Prologis, Inc. (NYSE:PLD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 108,835 shares of the real estate investment trust's stock, valued at approximately $11,439,000.

A number of other institutional investors have also modified their holdings of PLD. Murphy & Mullick Capital Management Corp acquired a new position in Prologis in the 4th quarter valued at $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis during the 4th quarter worth approximately $30,000. Dunhill Financial LLC boosted its stake in shares of 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 buying an additional 182 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in Prologis during the fourth quarter worth $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analyst Weigh In

PLD has been the topic of several research analyst reports. BNP Paribas upgraded shares of Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Baird R W upgraded shares of Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Robert W. Baird lifted their price target on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Scotiabank lowered their price target on Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Monday, January 27th. Finally, Mizuho dropped their price objective on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has an average rating of "Moderate Buy" and an average price target of $128.78.

Remove Ads

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction 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. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

Prologis Trading Down 0.3 %

Shares of PLD traded down $0.30 during mid-day trading on Tuesday, reaching $111.49. The company had a trading volume of 3,348,949 shares, compared to its average volume of 3,917,411. The stock has a market cap of $103.33 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $117.78 and a 200-day simple moving average of $116.11. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a $1.01 dividend. This is an increase from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis's dividend payout ratio is currently 101.00%.

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.