Prologis, Inc. (NYSE:PLD) Shares Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Prologis, Inc. (NYSE:PLD) by 20.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,256 shares of the real estate investment trust’s stock after purchasing an additional 12,803 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Prologis were worth $7,849,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Prestige Wealth Management Group LLC grew its stake in shares of Prologis by 6.9% in the fourth quarter. Prestige Wealth Management Group LLC now owns 13,303 shares of the real estate investment trust’s stock worth $1,406,000 after purchasing an additional 858 shares in the last quarter. Signature Estate & Investment Advisors LLC increased its stake in Prologis by 5.7% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 193,911 shares of the real estate investment trust’s stock valued at $20,496,000 after buying an additional 10,487 shares during the period. Zions Bancorporation N.A. raised its position in shares of Prologis by 32.8% during the 4th quarter. Zions Bancorporation N.A. now owns 65,528 shares of the real estate investment trust’s stock worth $6,926,000 after buying an additional 16,178 shares in the last quarter. Modern Wealth Management LLC bought a new stake in Prologis during the fourth quarter worth approximately $3,796,000. Finally, EntryPoint Capital LLC raised its stake in shares of Prologis by 8.7% in the 4th quarter. EntryPoint Capital LLC now owns 3,230 shares of the real estate investment trust’s stock worth $341,000 after buying an additional 258 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of several recent research reports. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Robert W. Baird upped their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. UBS Group raised their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Wolfe Research cut their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Trading Up 1.8 %

Shares of Prologis stock opened at $110.35 on Tuesday. The company has a market cap of $102.28 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The company’s fifty day simple moving average is $117.64 and its 200-day simple moving average is $116.80. 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.66%. Prologis’s dividend payout ratio (DPR) is 101.00%.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s 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 transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

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.