AIA Group Ltd Boosts Stock Holdings in Prologis, Inc. (NYSE:PLD)

AIA Group Ltd grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 53.7% during the 1st quarter, HoldingsChannel reports. The firm owned 353,188 shares of the real estate investment trust’s stock after buying an additional 123,347 shares during the period. Prologis comprises approximately 1.5% of AIA Group Ltd’s holdings, making the stock its 14th biggest position. AIA Group Ltd’s holdings in Prologis were worth $45,992,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. increased its stake in Prologis by 19.5% during the third quarter. Alps Advisors Inc. now owns 2,880 shares of the real estate investment trust’s stock worth $323,000 after purchasing an additional 470 shares during the period. Townsquare Capital LLC grew its position in shares of Prologis by 15.9% during the third quarter. Townsquare Capital LLC now owns 9,335 shares of the real estate investment trust’s stock worth $1,048,000 after buying an additional 1,280 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Prologis by 20.3% during the third quarter. Harbour Investments Inc. now owns 3,591 shares of the real estate investment trust’s stock worth $403,000 after buying an additional 606 shares in the last quarter. Creative Planning grew its position in shares of Prologis by 4.1% during the third quarter. Creative Planning now owns 72,990 shares of the real estate investment trust’s stock worth $8,190,000 after buying an additional 2,860 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in shares of Prologis by 6.0% during the third quarter. Public Sector Pension Investment Board now owns 188,125 shares of the real estate investment trust’s stock worth $21,110,000 after buying an additional 10,635 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PLD shares. The Goldman Sachs Group lowered their price objective on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Mizuho lowered their price target on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Royal Bank of Canada lowered their price target on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Argus decreased their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.76.

Prologis Price Performance

Shares of NYSE:PLD traded down $0.26 during midday trading on Friday, hitting $120.15. 3,994,354 shares of the stock were exchanged, compared to its average volume of 3,696,111. The stock has a market cap of $111.24 billion, a P/E ratio of 35.13, a PEG ratio of 2.76 and a beta of 1.06. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a 50 day moving average price of $110.40 and a 200-day moving average price of $120.70.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Monday, June 17th. Prologis’s dividend payout ratio is presently 112.28%.

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.