Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 8.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,090,875 shares of the real estate investment trust's stock after purchasing an additional 155,768 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.23% of Prologis worth $220,859,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis during the fourth quarter worth about $26,000. Crowley Wealth Management Inc. acquired a new stake in Prologis during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the 4th quarter valued at $30,000. Dunhill Financial LLC increased its stake 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 worth $33,000 after acquiring an additional 182 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Prologis in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 93.50% of the company's stock.
Insider Transactions at Prologis
In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction that occurred on 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 owns 7,977 shares of the company's stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.50% of the company's stock.
Prologis Trading Up 0.7 %
Shares of NYSE PLD traded up $0.74 during mid-day trading on Monday, reaching $111.19. 715,695 shares of the company's stock were exchanged, compared to its average volume of 3,902,662. The firm has a market capitalization of $103.06 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57. The company's 50-day moving average is $117.74 and its 200-day moving average is $116.24. 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.63%. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis's payout ratio is 101.00%.
Wall Street Analysts Forecast Growth
PLD has been the topic of a number of recent research reports. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Robert W. Baird boosted 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. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Truist Financial lifted their price target on Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Finally, Scotiabank dropped their price objective on Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $128.78.
Check Out Our Latest Stock Analysis on PLD
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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