B. Metzler seel. Sohn & Co. AG Increases Position in Prologis, Inc. (NYSE:PLD)

B. Metzler seel. Sohn & Co. AG grew its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,169 shares of the real estate investment trust's stock after buying an additional 4,801 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Prologis were worth $6,676,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLD. State Street Corp boosted its position in Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust's stock worth $7,250,157,000 after purchasing an additional 767,609 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust's stock worth $2,612,395,000 after purchasing an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Prologis by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust's stock worth $1,099,569,000 after purchasing an additional 173,531 shares during the period. Norges Bank purchased a new position in shares of Prologis in the 4th quarter worth about $951,263,000. Finally, Bank of New York Mellon Corp grew its position in Prologis by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust's stock valued at $631,266,000 after buying an additional 32,644 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the business'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 completion of the transaction, the executive now owns 7,977 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on PLD. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Truist Financial upped their price objective on Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Raymond James reissued a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. Mizuho dropped their price target on Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Finally, BTIG Research decreased their price objective on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $128.78.

Prologis Price Performance

NYSE:PLD traded down $10.92 during trading hours on Thursday, hitting $101.43. The stock had a trading volume of 7,612,428 shares, compared to its average volume of 3,940,799. The firm has a market capitalization of $94.01 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The company has a 50 day simple moving average of $117.61 and a two-hundred day simple moving average of $115.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.98%. This is a boost from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis's payout ratio is presently 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.