Meiji Yasuda Asset Management Co Ltd. Has $7.85 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Meiji Yasuda Asset Management Co Ltd. lifted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 20.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,256 shares of the real estate investment trust's stock after acquiring an additional 12,803 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Prologis were worth $7,849,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new position in Prologis in the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new position in shares of Prologis in the 4th quarter worth about $30,000. Dunhill Financial LLC boosted its holdings in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 182 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of Prologis during the 4th quarter valued at about $34,000. Finally, Promus Capital LLC acquired a new stake in Prologis during the fourth quarter worth about $34,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PLD shares. Royal Bank of Canada upped their target price on Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a report on Monday, January 27th. Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Robert W. Baird increased their target price on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Scotiabank cut their price objective on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Monday, January 27th. Finally, Truist Financial upped their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $128.78.

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Prologis Price Performance

Shares of PLD stock traded down $0.38 during mid-day trading on Friday, hitting $110.37. 3,660,201 shares of the stock traded hands, compared to its average volume of 3,915,027. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm has a market cap of $102.29 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company's 50-day simple moving average is $117.74 and its 200-day simple moving average is $116.34.

Prologis Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.66%. 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 Prologis stock in a transaction that occurred 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 transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% 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.