Taikang Asset Management Hong Kong Co Ltd Sells 22,356 Shares of Prologis, Inc. (NYSE:PLD)

Taikang Asset Management Hong Kong Co Ltd lowered its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 61.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,178 shares of the real estate investment trust's stock after selling 22,356 shares during the period. Taikang Asset Management Hong Kong Co Ltd's holdings in Prologis were worth $1,499,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Principle Wealth Partners LLC increased its stake in shares of Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock valued at $349,000 after buying an additional 92 shares during the period. Black Diamond Financial LLC increased its position 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 worth $449,000 after purchasing an additional 93 shares during the period. Berkshire Bank raised its holdings in Prologis by 2.3% during the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock worth $443,000 after purchasing an additional 95 shares during the last quarter. J.Safra Asset Management Corp raised its holdings in Prologis by 22.3% during the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 102 shares during the last quarter. Finally, Bridgewater Associates LP lifted its position in 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 period. Institutional investors own 93.50% of the company's stock.

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Wall Street Analysts Forecast Growth

PLD has been the subject of several analyst reports. Truist Financial lifted their price target 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. BNP Paribas upgraded shares of Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Royal Bank of Canada raised their price target on Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Monday, January 27th. BTIG Research dropped their price objective on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a report on Friday, January 17th. Finally, UBS Group raised their target price on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company's stock.

Prologis Stock Down 0.3 %

Shares of PLD stock traded down $0.38 during trading hours on Friday, hitting $110.37. 3,660,201 shares of the company were exchanged, compared to its average volume of 3,915,027. 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. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The business has a 50 day moving average of $117.74 and a two-hundred day moving average of $116.34. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

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

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.