Nomura Asset Management Co. Ltd. Boosts Stock Position in Prologis, Inc. (NYSE:PLD)

Nomura Asset Management Co. Ltd. boosted its position in Prologis, Inc. (NYSE:PLD) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,491,714 shares of the real estate investment trust’s stock after acquiring an additional 58,130 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Prologis were worth $157,674,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis during the 4th quarter valued at $26,000. Dunhill Financial LLC increased its holdings in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of Prologis in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis in the 4th quarter worth approximately $30,000. Finally, Promus Capital LLC purchased a new stake in Prologis during the 4th quarter worth approximately $34,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Wolfe Research dropped 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. BTIG Research reduced their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Mizuho dropped their target price 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, BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Performance

PLD opened at $110.95 on Friday. The firm’s fifty day simple moving average is $117.72 and its two-hundred day simple moving average is $116.59. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57. The company has a market cap of $102.84 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 2.70 and a beta of 1.09. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.64%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

Insiders Place Their Bets

In related 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 transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

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.