DnB Asset Management AS Has $31.74 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

DnB Asset Management AS increased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 300,292 shares of the real estate investment trust's stock after buying an additional 10,858 shares during the quarter. DnB Asset Management AS's holdings in Prologis were worth $31,741,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis during the fourth quarter worth $26,000. Crowley Wealth Management Inc. bought a new position in Prologis during the 4th quarter worth about $27,000. Centricity Wealth Management LLC acquired a new stake in shares of Prologis in the 4th quarter valued at about $30,000. Dunhill Financial LLC lifted its holdings 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 purchasing an additional 182 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Prologis in the fourth quarter valued at about $34,000. 93.50% of the stock is currently owned by institutional investors.

Insider Transactions 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 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 approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.50% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLD. BMO Capital Markets lowered Prologis from a "market perform" rating to an "underperform" rating and dropped their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. BTIG Research cut their price objective on shares of Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Scotiabank decreased their target price on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Monday, January 27th. Royal Bank of Canada boosted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Monday, January 27th. Finally, Mizuho reduced their price objective on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and an average price target of $128.78.

Prologis Stock Performance

Shares of PLD stock traded down $0.30 during midday trading on Tuesday, hitting $111.49. 3,321,099 shares of the company were exchanged, compared to its average volume of 3,917,368. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The firm has a market capitalization of $103.33 billion, a P/E ratio of 27.87, a PEG ratio of 2.70 and a beta of 1.09. The firm's 50 day moving average price is $117.78 and its two-hundred day moving average price is $116.11. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. This is a boost from Prologis's previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.62%. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Prologis 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.