Forbes J M & Co. LLP Raises Holdings in Prologis, Inc. (NYSE:PLD)

Forbes J M & Co. LLP increased its position in Prologis, Inc. (NYSE:PLD) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,080 shares of the real estate investment trust’s stock after buying an additional 213 shares during the period. Forbes J M & Co. LLP’s holdings in Prologis were worth $6,139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after acquiring an additional 767,609 shares during the last quarter. Geode Capital Management LLC raised its stake in Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after purchasing an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after purchasing an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of Prologis by 1.8% in the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock worth $486,514,000 after buying an additional 80,575 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Robert W. Baird increased their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. reduced their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Mizuho cut their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Down 1.0 %

NYSE:PLD opened at $117.39 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The stock has a market capitalization of $108.72 billion, a P/E ratio of 29.35, a P/E/G ratio of 2.66 and a beta of 1.10. The company’s 50-day simple moving average is $111.11 and its 200-day simple moving average is $118.24. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is presently 96.00%.

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.