Prologis, Inc. (NYSE:PLD) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,596,799 shares of the real estate investment trust’s stock after acquiring an additional 334,907 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Prologis were worth $1,754,282,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PLD. Truist Financial lifted their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Robert W. Baird lifted their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. BTIG Research cut their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada lifted their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Finally, BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Down 0.3 %

Prologis stock opened at $111.49 on Wednesday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The firm has a market capitalization of $103.33 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The stock’s fifty day moving average is $117.67 and its two-hundred day moving average is $115.98. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is 101.00%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction 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 $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

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.