Prologis, Inc. (NYSE:PLD) Stock Position Increased by AIA Group Ltd

AIA Group Ltd boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 1.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 422,728 shares of the real estate investment trust’s stock after buying an additional 7,746 shares during the period. Prologis accounts for 1.1% of AIA Group Ltd’s investment portfolio, making the stock its 22nd largest position. AIA Group Ltd’s holdings in Prologis were worth $44,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Prologis during the 4th quarter valued at about $26,000. Dunhill Financial LLC boosted its holdings in Prologis by 239.5% during the third 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 position in Prologis in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in shares of Prologis in the fourth quarter valued at $30,000. Finally, Promus Capital LLC acquired a new stake 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.

Prologis Stock Performance

PLD opened at $110.37 on Monday. The stock has a market cap of $102.29 billion, a PE ratio of 27.59, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The stock’s 50 day simple moving average is $117.74 and its 200-day simple moving average is $116.24. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.66%. Prologis’s dividend payout ratio is currently 101.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PLD shares. Truist Financial boosted their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. BTIG Research dropped their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada raised their price objective on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Finally, BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on 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 sale, the executive now directly 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 can be accessed through this link. 0.50% of the stock is owned by company insiders.

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.