Massachusetts Financial Services Co. MA increased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 2.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 16,596,799 shares of the real estate investment trust's stock after purchasing an additional 334,907 shares during the period. Massachusetts Financial Services Co. MA owned 1.79% of Prologis worth $1,754,282,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. RFG Bristol Wealth Advisors LLC purchased a new position in shares of Prologis during the fourth quarter worth about $456,000. Headlands Technologies LLC lifted its position in Prologis by 283.0% during the 4th quarter. Headlands Technologies LLC now owns 4,845 shares of the real estate investment trust's stock worth $512,000 after acquiring an additional 3,580 shares during the period. Geode Capital Management LLC increased its holdings in shares of Prologis by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock valued at $2,252,853,000 after purchasing an additional 610,251 shares during the period. HighPoint Advisor Group LLC lifted its holdings in shares of Prologis by 4.3% during the fourth quarter. HighPoint Advisor Group LLC now owns 14,949 shares of the real estate investment trust's stock worth $1,580,000 after purchasing an additional 612 shares during the period. Finally, Family Legacy Inc. grew its position in Prologis by 5.7% in the 4th quarter. Family Legacy Inc. now owns 18,653 shares of the real estate investment trust's stock valued at $1,968,000 after buying an additional 1,001 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, CIO Joseph Ghazal sold 10,997 shares of the firm's 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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company's stock.
Prologis Stock Down 9.7 %
NYSE:PLD traded down $10.92 during mid-day trading on Thursday, reaching $101.43. The stock had a trading volume of 7,612,428 shares, compared to its average volume of 3,942,217. The stock has a market cap of $94.01 billion, a P/E ratio of 25.36, a PEG ratio of 2.70 and a beta of 1.09. The business's 50 day moving average is $117.27 and its 200 day moving average is $115.85. 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 fifty-two week low of $100.82 and a fifty-two week high of $132.57.
Prologis Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. 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 (DPR) is 101.00%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the company. Robert W. Baird lifted their price target on Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Mizuho lowered their price target on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Baird R W upgraded shares of Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. BTIG Research decreased their price target on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Finally, BNP Paribas raised Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.
Check Out Our Latest Stock Analysis on Prologis
About Prologis
(
Free Report)
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.
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