Banco Santander S.A. Acquires 2,192 Shares of Prologis, Inc. (NYSE:PLD)

Banco Santander S.A. raised its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 88.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,683 shares of the real estate investment trust's stock after acquiring an additional 2,192 shares during the quarter. Banco Santander S.A.'s holdings in Prologis were worth $495,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Callan Family Office LLC purchased a new position in Prologis during the 4th quarter valued at about $429,000. Welch & Forbes LLC grew its stake in shares of Prologis by 7.7% in the 4th quarter. Welch & Forbes LLC now owns 4,555 shares of the real estate investment trust's stock valued at $481,000 after buying an additional 325 shares in the last quarter. E Fund Management Co. Ltd. bought a new stake in shares of Prologis in the 4th quarter valued at approximately $242,000. Candriam S.C.A. grew its stake in shares of Prologis by 15.6% in the 4th quarter. Candriam S.C.A. now owns 114,596 shares of the real estate investment trust's stock valued at $12,113,000 after buying an additional 15,449 shares in the last quarter. Finally, Carmel Capital Partners LLC grew its stake in shares of Prologis by 6.0% in the 4th quarter. Carmel Capital Partners LLC now owns 3,973 shares of the real estate investment trust's stock valued at $420,000 after buying an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company's 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 transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

PLD has been the subject of several recent research reports. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Barclays boosted their target price on Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. Wolfe Research reduced their target price on Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Finally, Mizuho reduced their target price on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.

Prologis Stock Performance

Shares of NYSE PLD traded down $0.48 during trading hours on Tuesday, reaching $117.39. The stock had a trading volume of 5,521,712 shares, compared to its average volume of 3,886,607. The business's fifty day moving average is $116.22 and its two-hundred day moving average is $117.87. 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 company has a market cap of $108.81 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.27.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 3.44%. This is a positive change from Prologis's previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis's dividend payout ratio is presently 101.00%.

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.