Zions Bancorporation N.A. Purchases 16,178 Shares of Prologis, Inc. (NYSE:PLD)

Zions Bancorporation N.A. boosted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 32.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,528 shares of the real estate investment trust's stock after purchasing an additional 16,178 shares during the period. Zions Bancorporation N.A.'s holdings in Prologis were worth $6,926,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PLD. Principle Wealth Partners LLC grew its stake in Prologis by 2.9% during the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock valued at $349,000 after acquiring an additional 92 shares in the last quarter. Black Diamond Financial LLC increased its stake in Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock valued at $449,000 after acquiring an additional 93 shares during the last quarter. Berkshire Bank increased its position in shares of Prologis by 2.3% during the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock valued at $443,000 after purchasing an additional 95 shares during the last quarter. J.Safra Asset Management Corp boosted its stake in shares of Prologis by 22.3% in the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 102 shares in the last quarter. Finally, Bridgewater Associates LP grew its holdings in shares of Prologis by 4.0% during the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust's stock valued at $338,000 after purchasing an additional 103 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

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Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 completion of the transaction, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wolfe Research reduced their price objective on Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Royal Bank of Canada boosted their price objective on Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research report on Monday, January 27th. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Finally, Truist Financial lifted their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $128.78.

Prologis Stock Down 0.3 %

Shares of NYSE:PLD traded down $0.38 during trading on Friday, hitting $110.37. The stock had a trading volume of 3,660,201 shares, compared to its average volume of 3,915,027. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57. The company has a market capitalization of $102.29 billion, a PE ratio of 27.59, a PEG ratio of 2.70 and a beta of 1.09. The firm's fifty day moving average is $117.74 and its 200 day moving average is $116.34.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.66%. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is currently 101.00%.

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.