LGT Group Foundation Invests $33.30 Million in Prologis, Inc. (NYSE:PLD)

LGT Group Foundation acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 315,020 shares of the real estate investment trust's stock, valued at approximately $33,298,000.

Several other large investors have also recently added to or reduced their stakes in PLD. Jones Financial Companies Lllp grew its position in shares of Prologis by 44.8% during the fourth quarter. Jones Financial Companies Lllp now owns 97,230 shares of the real estate investment trust's stock worth $10,277,000 after acquiring an additional 30,070 shares during the last quarter. SRS Capital Advisors Inc. grew its position in Prologis by 38.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,034 shares of the real estate investment trust's stock worth $321,000 after purchasing an additional 839 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Prologis by 10.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,971 shares of the real estate investment trust's stock valued at $1,048,000 after purchasing an additional 949 shares during the period. Sherman Asset Management Inc. acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $140,000. Finally, Richard W. Paul & Associates LLC raised its holdings in shares of Prologis by 17.5% during the fourth quarter. Richard W. Paul & Associates LLC now owns 4,130 shares of the real estate investment trust's stock valued at $437,000 after buying an additional 616 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction that occurred on 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 sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company's stock.

Prologis Price Performance

Shares of PLD traded down $0.44 during trading hours on Monday, hitting $123.48. 3,183,952 shares of the company were exchanged, compared to its average volume of 3,834,906. The firm has a fifty day simple moving average of $114.28 and a 200-day simple moving average of $118.01. The company has a market capitalization of $114.45 billion, a PE ratio of 30.87, a PEG ratio of 2.70 and a beta of 1.10. 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, Inc. has a one year low of $100.82 and a one year high of $135.76.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.27%. Prologis's dividend payout ratio is currently 101.00%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. UBS Group raised their target price on Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. BNP Paribas raised Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Barclays lifted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research note on Monday, November 18th. Wolfe Research lowered their target price on shares of Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Finally, Raymond James restated a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. 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 company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $128.78.

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.