Prologis, Inc. (NYSE:PLD) Shares Acquired by Pring Turner Capital Group Inc.

Pring Turner Capital Group Inc. increased its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 13.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,667 shares of the real estate investment trust's stock after acquiring an additional 4,791 shares during the period. Prologis makes up 2.9% of Pring Turner Capital Group Inc.'s investment portfolio, making the stock its 14th largest position. Pring Turner Capital Group Inc.'s holdings in Prologis were worth $4,299,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust's stock worth $1,280,928,000 after acquiring an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC increased its position in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust's stock worth $456,320,000 after purchasing an additional 2,138,693 shares in the last quarter. AMF Tjanstepension AB raised its holdings in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock valued at $236,879,000 after buying an additional 1,365,811 shares during the period. Cardano Risk Management B.V. acquired a new position in Prologis during the third quarter valued at approximately $109,579,000. Finally, Jennison Associates LLC grew its stake in Prologis by 395.3% during the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust's stock worth $109,858,000 after buying an additional 829,504 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLD. Raymond James reissued a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. Scotiabank reduced their price target on Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Monday, January 27th. Mizuho lowered their price objective on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Wolfe Research lowered their price target on shares of Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $128.78.

Prologis Stock Performance

PLD stock traded up $1.11 during trading on Friday, hitting $123.88. 5,562,229 shares of the company's stock traded hands, compared to its average volume of 3,851,597. The stock has a market capitalization of $114.82 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The stock has a fifty day moving average price of $113.87 and a two-hundred day moving average price of $118.05. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

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 given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.26%. This is a boost from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis's dividend payout ratio is presently 101.00%.

Insider Buying and Selling

In other Prologis 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 sale, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.56% 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.