Pictet Asset Management Holding SA Purchases 102,038 Shares of Prologis, Inc. (NYSE:PLD)

Pictet Asset Management Holding SA raised its position in Prologis, Inc. (NYSE:PLD - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,526,498 shares of the real estate investment trust's stock after acquiring an additional 102,038 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.16% of Prologis worth $161,351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLD. Principle Wealth Partners LLC increased its holdings in shares of Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock worth $349,000 after acquiring an additional 92 shares during the last quarter. Black Diamond Financial LLC increased its holdings in shares of Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock valued at $449,000 after purchasing an additional 93 shares during the last quarter. Berkshire Bank raised its position in shares of Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock valued at $443,000 after purchasing an additional 95 shares during the period. J.Safra Asset Management Corp lifted its stake in shares of Prologis by 22.3% during the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust's stock worth $59,000 after buying an additional 102 shares during the last quarter. Finally, Bridgewater Associates LP boosted its holdings in shares of Prologis by 4.0% during the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust's stock worth $338,000 after buying an additional 103 shares during the period. Institutional investors own 93.50% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Baird R W upgraded shares of Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Raymond James reissued a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Mizuho reduced their price target on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Wolfe Research lowered their price objective on Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Finally, Scotiabank reduced their target price on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Monday, January 27th. One 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 assigned a strong buy rating to the company. According to MarketBeat, Prologis currently has an average rating of "Moderate Buy" and an average price target of $128.78.

Prologis Price Performance

PLD stock traded down $0.43 during midday trading on Wednesday, reaching $111.02. 972,441 shares of the stock were exchanged, compared to its average volume of 3,899,154. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The company has a fifty day moving average price of $117.67 and a 200 day moving average price of $115.98. 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 stock has a market capitalization of $102.90 billion, a PE ratio of 27.75, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.64%. This is an increase from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio is currently 101.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction 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 completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $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 available at this hyperlink. 0.50% of the stock is owned by company insiders.

Prologis Company 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.