Axiom Investors LLC DE grew its position in Prologis, Inc. (NYSE:PLD - Free Report) by 21.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 647,801 shares of the real estate investment trust's stock after buying an additional 116,086 shares during the period. Axiom Investors LLC DE owned 0.07% of Prologis worth $68,473,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Principle Wealth Partners LLC grew its stake in Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock worth $349,000 after buying an additional 92 shares during the last quarter. Black Diamond Financial LLC boosted its stake in 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 grew its position in Prologis by 2.3% during the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock worth $443,000 after purchasing an additional 95 shares during the last quarter. J.Safra Asset Management Corp increased its stake in Prologis by 22.3% during the 4th 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 in the last quarter. Finally, Bridgewater Associates LP raised its holdings in shares of Prologis by 4.0% in 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 during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PLD has been the subject of a number of research reports. Robert W. Baird lifted their price target on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Mizuho cut their price target on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Raymond James reiterated a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. Finally, Truist Financial boosted their target price on shares of Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research report on Monday, January 27th. 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $128.78.
Check Out Our Latest Stock Report on PLD
Prologis Stock Up 1.0 %
Shares of NYSE:PLD traded up $1.07 during trading on Wednesday, hitting $112.52. The company's stock had a trading volume of 3,229,670 shares, compared to its average volume of 3,923,235. The business has a 50 day moving average price of $117.67 and a two-hundred day moving average price of $115.98. 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 fifty-two week low of $100.82 and a fifty-two week high of $132.57. The company has a market capitalization of $104.29 billion, a PE ratio of 28.13, a P/E/G ratio of 2.70 and a beta of 1.09.
Prologis Increases Dividend
The company also recently announced 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 a boost 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 yield of 3.59%. Prologis's dividend payout ratio (DPR) is 101.00%.
Insiders Place Their Bets
In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on 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 transaction, the executive now owns 7,977 shares of the company's stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by company insiders.
About Prologis
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Free Report)
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.
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