Prologis, Inc. (NYSE:PLD) is B&I Capital AG's Largest Position

B&I Capital AG grew its position in Prologis, Inc. (NYSE:PLD - Free Report) by 20.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 355,431 shares of the real estate investment trust's stock after acquiring an additional 60,300 shares during the quarter. Prologis accounts for 12.2% of B&I Capital AG's portfolio, making the stock its biggest holding. B&I Capital AG's holdings in Prologis were worth $37,569,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Prologis by 534.7% during the 3rd 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 valued at $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC increased its stake in 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 acquiring an additional 2,138,693 shares during the last quarter. Cardano Risk Management B.V. purchased a new stake in Prologis during the third quarter valued at approximately $109,579,000. Jennison Associates LLC lifted its stake in shares of Prologis by 395.3% in the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust's stock valued at $109,858,000 after purchasing an additional 829,504 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust's stock valued at $7,250,157,000 after purchasing an additional 767,609 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Down 0.4 %

NYSE PLD traded down $0.44 on Monday, reaching $123.48. 3,183,952 shares of the stock traded hands, compared to its average volume of 3,834,906. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a market cap of $114.45 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.70 and a beta of 1.10. The company has a fifty day moving average price of $114.28 and a 200-day moving average price of $118.01. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This is an increase from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, March 18th. Prologis's payout ratio is presently 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction 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 trade represents a 57.96 % decrease in their position. 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 insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays boosted their target price on Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Truist Financial increased their target price on shares of Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research note on Monday, January 27th. BNP Paribas raised shares of Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Raymond James reiterated a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Finally, BTIG Research decreased their price objective on shares of Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and an average price target of $128.78.

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.