Prologis, Inc. (NYSE:PLD) Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd grew its position in Prologis, Inc. (NYSE:PLD - Free Report) by 30.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,977 shares of the real estate investment trust's stock after buying an additional 10,719 shares during the period. Y Intercept Hong Kong Ltd's holdings in Prologis were worth $4,860,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. State Street Corp grew its position in Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust's stock worth $7,250,157,000 after acquiring an additional 767,609 shares during the period. Geode Capital Management LLC grew its holdings in shares of Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust's stock worth $2,612,395,000 after purchasing an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust's stock worth $1,291,743,000 after purchasing an additional 441,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prologis by 534.7% in 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 during the period. Finally, Swedbank AB lifted its position in Prologis by 1.8% in the fourth quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust's stock valued at $486,514,000 after buying an additional 80,575 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the business'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 completion of the sale, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.56% of the company's stock.

Prologis Stock Up 0.6 %

NYSE:PLD traded up $0.75 during trading hours on Thursday, hitting $122.91. The company's stock had a trading volume of 2,293,294 shares, compared to its average volume of 3,806,582. The stock has a market capitalization of $113.92 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average of $113.44 and a 200-day moving average of $118.02. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76.

Prologis Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is currently 101.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in 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. Mizuho dropped their target price on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Raymond James restated a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. BMO Capital Markets cut Prologis from a "market perform" rating to an "underperform" rating and dropped their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, Scotiabank cut their price objective on Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $128.78.

About Prologis

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.