Prologis, Inc. (NYSE:PLD) Shares Purchased by AIA Group Ltd

AIA Group Ltd boosted its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 422,728 shares of the real estate investment trust's stock after purchasing an additional 7,746 shares during the period. Prologis comprises 1.1% of AIA Group Ltd's holdings, making the stock its 22nd biggest holding. AIA Group Ltd's holdings in Prologis were worth $44,682,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Prologis in the fourth quarter worth approximately $951,263,000. Raymond James Financial Inc. purchased a new stake in Prologis in the fourth quarter worth $254,876,000. Janus Henderson Group PLC lifted its position in shares of Prologis by 145.0% during the third 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 during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Prologis by 83.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock valued at $399,528,000 after purchasing an additional 1,723,129 shares during the period. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Prologis by 59.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,584,288 shares of the real estate investment trust's stock worth $272,642,000 after purchasing an additional 964,454 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

Several research firms have issued reports on PLD. BNP Paribas raised shares of Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Royal Bank of Canada lifted their price target on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research note on Monday, January 27th. Truist Financial increased their price objective on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Mizuho decreased their target price on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Finally, Robert W. Baird increased their price target on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. One investment 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $128.78.

Insider Activity 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 sale, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by insiders.

Prologis Stock Down 9.4 %

PLD stock traded down $10.61 on Thursday, hitting $101.73. 5,165,768 shares of the company's stock were exchanged, compared to its average volume of 3,932,857. The firm has a 50 day moving average price of $117.61 and a two-hundred day moving average price of $115.95. 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, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. The stock has a market cap of $94.29 billion, a P/E ratio of 25.53, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.97%. Prologis's payout ratio is 101.00%.

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.