Prologis, Inc. (NYSE:PLD) Stock Position Raised by Perpetual Ltd

Perpetual Ltd boosted its holdings in Prologis, Inc. (NYSE:PLD) by 38.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 288,800 shares of the real estate investment trust’s stock after acquiring an additional 80,244 shares during the period. Perpetual Ltd’s holdings in Prologis were worth $30,526,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PLD. Royal Fund Management LLC acquired a new position in Prologis during the 4th quarter valued at approximately $1,469,000. Strong Tower Advisory Services lifted its stake in Prologis by 30.1% in the fourth quarter. Strong Tower Advisory Services now owns 2,550 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 590 shares during the last quarter. Sarasin & Partners LLP boosted its holdings in shares of Prologis by 0.3% during the fourth quarter. Sarasin & Partners LLP now owns 936,862 shares of the real estate investment trust’s stock valued at $99,026,000 after acquiring an additional 2,814 shares during the period. Liberty One Investment Management LLC grew its position in shares of Prologis by 10.3% during the fourth quarter. Liberty One Investment Management LLC now owns 39,443 shares of the real estate investment trust’s stock worth $4,169,000 after acquiring an additional 3,693 shares during the last quarter. Finally, Clarius Group LLC grew its position in shares of Prologis by 22.7% during the fourth quarter. Clarius Group LLC now owns 5,338 shares of the real estate investment trust’s stock worth $564,000 after acquiring an additional 988 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of NYSE:PLD opened at $109.51 on Tuesday. The company has a market capitalization of $101.43 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a fifty day moving average of $110.34 and a 200-day moving average of $118.36. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.51%. Prologis’s dividend payout ratio (DPR) is 116.01%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wolfe Research reduced their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday. Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Scotiabank lowered their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, BTIG Research cut their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.67.

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.