108,835 Shares in Prologis, Inc. (NYSE:PLD) Purchased by Allianz SE

Allianz SE bought a new stake in Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 108,835 shares of the real estate investment trust’s stock, valued at approximately $11,439,000.

Several other hedge funds also recently bought and sold shares of the stock. Centaurus Financial Inc. purchased a new position in Prologis in the third quarter valued at $112,000. Loomis Sayles & Co. L P increased its stake in shares of Prologis by 202.2% during the third quarter. Loomis Sayles & Co. L P now owns 1,233 shares of the real estate investment trust’s stock worth $156,000 after buying an additional 825 shares during the period. Townsquare Capital LLC lifted its stake in Prologis by 12.5% in the third quarter. Townsquare Capital LLC now owns 15,307 shares of the real estate investment trust’s stock worth $1,933,000 after acquiring an additional 1,705 shares during the last quarter. Bridgewater Associates LP lifted its position 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 worth $338,000 after purchasing an additional 103 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its stake in shares of Prologis by 31.0% during the third quarter. Glenmede Trust Co. NA now owns 29,171 shares of the real estate investment trust’s stock worth $3,684,000 after purchasing an additional 6,905 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of several analyst reports. BTIG Research lowered their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. 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 research note on Friday, January 17th. Mizuho reduced their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Robert W. Baird increased their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One 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 MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

Prologis stock opened at $110.37 on Friday. The firm has a market capitalization of $102.29 billion, a PE ratio of 27.59, a P/E/G 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 firm’s 50-day simple moving average is $117.74 and its 200 day simple moving average is $116.45. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.66%. Prologis’s dividend payout ratio is currently 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.

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.