Pictet Asset Management Holding SA Purchases 102,038 Shares of Prologis, Inc. (NYSE:PLD)

Pictet Asset Management Holding SA lifted its holdings in Prologis, Inc. (NYSE:PLD) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,526,498 shares of the real estate investment trust’s stock after acquiring an additional 102,038 shares during the period. Pictet Asset Management Holding SA’s holdings in Prologis were worth $161,351,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp bought a new stake in Prologis in the fourth quarter worth approximately $26,000. Dunhill Financial LLC boosted its holdings 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 worth $33,000 after buying an additional 182 shares in the last quarter. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new stake in shares of Prologis in the 4th quarter valued at $30,000. Finally, Promus Capital LLC acquired a new position in shares of Prologis during the 4th quarter valued at $34,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on PLD. Truist Financial raised their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. UBS Group increased their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada boosted their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Finally, BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s 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 transaction, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by company insiders.

Prologis Stock Down 0.3 %

Prologis stock opened at $110.37 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock has a market cap of $102.29 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two 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.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date 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%.

Prologis Company 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.