Fmr LLC Has $1.89 Billion Position in Prologis, Inc. (NYSE:PLD)

Fmr LLC boosted its holdings in Prologis, Inc. (NYSE:PLD) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,878,397 shares of the real estate investment trust’s stock after acquiring an additional 1,875,978 shares during the quarter. Fmr LLC’s holdings in Prologis were worth $1,889,747,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Worldquant Millennium Advisors LLC bought a new position in shares of Prologis during the 3rd quarter worth approximately $1,051,000. Insigneo Advisory Services LLC bought a new position in shares of Prologis during the third quarter valued at $282,000. EP Wealth Advisors LLC boosted its stake in shares of Prologis by 11.5% in the 3rd quarter. EP Wealth Advisors LLC now owns 14,418 shares of the real estate investment trust’s stock valued at $1,821,000 after purchasing an additional 1,492 shares in the last quarter. DF Dent & Co. Inc. bought a new stake in shares of Prologis in the 3rd quarter worth about $260,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Prologis during the 3rd quarter worth about $24,324,000. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were 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 owns 7,977 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Prologis Stock Down 3.4 %

PLD stock opened at $98.10 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The stock has a market capitalization of $90.94 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a fifty-two week low of $95.34 and a fifty-two week high of $132.57. The business has a 50-day moving average of $116.86 and a 200-day moving average of $115.46.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 4.12%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is 101.00%.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Robert W. Baird increased their price target on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Raymond James restated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, Scotiabank cut their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.78.

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.