Geode Capital Management LLC Purchases 610,251 Shares of Prologis, Inc. (NYSE:PLD)

Geode Capital Management LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,372,231 shares of the real estate investment trust's stock after purchasing an additional 610,251 shares during the quarter. Geode Capital Management LLC owned approximately 2.31% of Prologis worth $2,252,853,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Empirical Asset Management LLC increased its holdings in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock valued at $7,249,000 after buying an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. grew its position in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock valued at $94,391,000 after acquiring an additional 25,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Prologis by 29.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock worth $82,907,000 after purchasing an additional 179,880 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in Prologis in the 3rd quarter worth $1,051,000. Finally, Allstate Corp lifted its position in Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after purchasing an additional 39,321 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently issued reports on PLD shares. Robert W. Baird increased their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Scotiabank dropped their price target on Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Monday, January 27th. Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada lifted their price objective on Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.78.

Prologis Trading Down 9.7 %

Shares of NYSE:PLD traded down $10.92 during trading hours on Thursday, hitting $101.43. 7,612,428 shares of the company's stock traded hands, compared to its average volume of 3,940,799. 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 business has a fifty day moving average price of $117.61 and a 200-day moving average price of $115.95. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The firm has a market capitalization of $94.01 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.98%. The ex-dividend date was Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio is 101.00%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

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.