Nomura Asset Management Co. Ltd. Buys 58,130 Shares of Prologis, Inc. (NYSE:PLD)

Nomura Asset Management Co. Ltd. boosted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,491,714 shares of the real estate investment trust's stock after acquiring an additional 58,130 shares during the period. Nomura Asset Management Co. Ltd. owned 0.16% of Prologis worth $157,674,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empirical Asset Management LLC lifted its stake in shares of Prologis by 339.0% in 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 in the last quarter. Cardano Risk Management B.V. increased its holdings in 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 worth $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after purchasing an additional 179,880 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new position in shares of Prologis during the third quarter valued at approximately $1,051,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Prologis by 1.3% during the third quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust's stock worth $92,048,000 after buying an additional 9,147 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have weighed in on PLD. Truist Financial raised their price objective on Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Mizuho cut their price target on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. BNP Paribas raised shares of Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Finally, BMO Capital Markets lowered Prologis from a "market perform" rating to an "underperform" rating and dropped their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, Prologis presently has an average rating of "Moderate Buy" and an average target price of $128.78.

Prologis Stock Performance

PLD stock traded down $0.46 during midday trading on Tuesday, reaching $111.33. 1,153,452 shares of the company's stock traded hands, compared to its average volume of 3,911,385. The firm has a market capitalization of $103.18 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a 50-day moving average price of $117.78 and a two-hundred day moving average price of $116.11. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. 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 announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $1.01 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.63%. This is an increase from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is currently 101.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction on 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 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 document filed with the SEC, which can be accessed 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.