KLP Kapitalforvaltning AS Makes New Investment in Prologis, Inc. (NYSE:PLD)

KLP Kapitalforvaltning AS purchased a new position in Prologis, Inc. (NYSE:PLD) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 326,741 shares of the real estate investment trust’s stock, valued at approximately $34,537,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PLD. Centricity Wealth Management LLC bought a new position in Prologis in the 4th quarter worth approximately $30,000. Dunhill Financial LLC boosted its position in shares of Prologis by 239.5% during the 3rd 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 during the last quarter. Whipplewood Advisors LLC bought a new position in shares of Prologis during the 4th quarter valued at approximately $34,000. Promus Capital LLC bought a new position in shares of Prologis during the 4th quarter valued at approximately $34,000. Finally, Asset Planning Inc bought a new position in shares of Prologis during the 4th quarter valued at approximately $53,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PLD shares. Mizuho lowered their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird increased their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. BTIG Research lowered 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. Finally, Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

PLD stock opened at $108.27 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $117.54 and its two-hundred day simple moving average is $116.99. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The firm has a market cap of $100.35 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.73%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insiders Place Their Bets

In other Prologis 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 sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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.