FIL Ltd Has $91.25 Million Holdings in Prologis, Inc. (NYSE:PLD)

FIL Ltd increased its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 44.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 863,251 shares of the real estate investment trust's stock after purchasing an additional 267,096 shares during the period. FIL Ltd owned approximately 0.09% of Prologis worth $91,246,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis during the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. bought a new position in shares of Prologis in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new stake in shares of Prologis in the fourth quarter worth $30,000. Whipplewood Advisors LLC bought a new stake in shares of Prologis during the 4th quarter worth $34,000. Finally, Promus Capital LLC acquired a new position in Prologis in the 4th quarter valued at $34,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated 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 transaction, the executive now owns 7,977 shares of the company's stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Robert W. Baird upped 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. UBS Group upped their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Mizuho cut their price target on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Finally, Scotiabank restated a "sector underperform" rating and set a $97.00 price objective (down from $133.00) on shares of Prologis in a research report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.78.

Prologis Trading Up 0.8 %

Shares of NYSE PLD traded up $0.82 during midday trading on Tuesday, hitting $99.12. The stock had a trading volume of 1,937,019 shares, compared to its average volume of 4,718,832. The firm has a market cap of $91.88 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company's 50-day simple moving average is $112.93 and its 200 day simple moving average is $113.79.

Prologis Increases Dividend

The firm 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 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is 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.