Waverton Investment Management Ltd Raises Holdings in Prologis, Inc. (NYSE:PLD)

Waverton Investment Management Ltd boosted its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 61.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 510,899 shares of the real estate investment trust's stock after purchasing an additional 194,923 shares during the period. Prologis comprises approximately 0.9% of Waverton Investment Management Ltd's holdings, making the stock its 28th largest holding. Waverton Investment Management Ltd owned about 0.06% of Prologis worth $54,010,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. AMF Tjanstepension AB grew its holdings in shares of Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock worth $236,879,000 after acquiring an additional 1,365,811 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Prologis by 9,354.5% during the 3rd quarter. International Assets Investment Management LLC now owns 434,908 shares of the real estate investment trust's stock worth $54,920,000 after acquiring an additional 430,308 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Prologis by 14.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 28,534 shares of the real estate investment trust's stock worth $3,603,000 after acquiring an additional 3,614 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Prologis by 19.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,985 shares of the real estate investment trust's stock worth $13,898,000 after buying an additional 19,193 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its stake in shares of Prologis by 13.9% in the 3rd quarter. Arkadios Wealth Advisors now owns 15,195 shares of the real estate investment trust's stock worth $1,919,000 after buying an additional 1,860 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction 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 completion of the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.56% of the stock is currently owned by company insiders.

Prologis Stock Performance

Shares of NYSE:PLD traded up $0.75 during midday trading on Thursday, hitting $122.91. The company had a trading volume of 2,293,294 shares, compared to its average volume of 3,806,582. 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 company has a market cap of $113.92 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a fifty day moving average of $113.44 and a two-hundred day moving average of $118.02.

Prologis Increases Dividend

The firm 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 represents a $4.04 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio is presently 101.00%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PLD. Wolfe Research cut their price target on Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada upped their price target on Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Monday, January 27th. BNP Paribas raised Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. BTIG Research lowered their price objective on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Finally, Robert W. Baird upped their price objective on Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.