RiverFront Investment Group LLC Increases Stock Position in Prologis, Inc. (NYSE:PLD)

RiverFront Investment Group LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,058 shares of the real estate investment trust's stock after acquiring an additional 2,412 shares during the period. RiverFront Investment Group LLC's holdings in Prologis were worth $12,267,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PLD. Empirical Asset Management LLC grew its stake in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock valued at $7,249,000 after purchasing an additional 52,963 shares during the period. Cardano Risk Management B.V. lifted its position in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock valued at $94,391,000 after buying an additional 25,266 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Prologis by 29.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock worth $82,907,000 after acquiring an additional 179,880 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in Prologis in the 3rd quarter worth about $1,051,000. Finally, Banco Santander S.A. raised its stake in Prologis by 88.0% in the 4th quarter. Banco Santander S.A. now owns 4,683 shares of the real estate investment trust's stock valued at $495,000 after acquiring an additional 2,192 shares during the period. 93.50% of the stock is currently owned by institutional investors.

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Prologis Price Performance

NYSE PLD traded down $0.30 during trading hours on Tuesday, reaching $111.49. 3,321,099 shares of the stock traded hands, compared to its average volume of 3,917,368. 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 stock has a 50 day simple moving average of $117.78 and a two-hundred day simple moving average of $116.11. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The company has a market cap of $103.33 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Mizuho cut their target price on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Wolfe Research reduced their price objective on shares of Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. UBS Group increased their target price on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Robert W. Baird lifted their price target on Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Scotiabank decreased their price objective on Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a research note 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. According to data from MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.78.

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.