Aviva PLC Acquires 186,187 Shares of Prologis, Inc. (NYSE:PLD)

Aviva PLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 36.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 695,187 shares of the real estate investment trust's stock after buying an additional 186,187 shares during the quarter. Aviva PLC owned 0.08% of Prologis worth $73,481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp bought a new stake in Prologis during the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. purchased a new position in shares of Prologis during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new stake in Prologis during the fourth quarter worth $30,000. Dunhill Financial LLC raised its position in Prologis by 239.5% in the 3rd 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 during the last quarter. Finally, Whipplewood Advisors LLC bought a new position in Prologis during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by company insiders.

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Prologis Trading Down 3.7 %

NYSE:PLD traded down $3.63 during trading hours on Thursday, reaching $94.59. The company's stock had a trading volume of 7,613,360 shares, compared to its average volume of 4,100,838. The firm has a 50-day simple moving average of $114.25 and a 200-day simple moving average of $114.48. 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, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The firm has a market capitalization of $87.68 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 2.70 and a beta of 1.20.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is 101.00%.

Analysts Set New Price Targets

Several analysts have recently commented on PLD shares. BNP Paribas upgraded shares of Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Raymond James reiterated a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. Wolfe Research cut their target price on Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Finally, BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $126.78.

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.