GAM Holding AG Acquires New Shares in Prologis, Inc. (NYSE:PLD)

GAM Holding AG acquired a new stake in Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,760 shares of the real estate investment trust’s stock, valued at approximately $1,349,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in PLD. AMF Tjanstepension AB raised its holdings in shares of Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Creative Planning raised its holdings in shares of Prologis by 18.3% in the third quarter. Creative Planning now owns 100,154 shares of the real estate investment trust’s stock valued at $12,647,000 after acquiring an additional 15,510 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of Prologis in the third quarter valued at about $234,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Prologis by 34.2% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 22,345 shares of the real estate investment trust’s stock valued at $2,822,000 after acquiring an additional 5,700 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its stake in Prologis by 203.1% in the third quarter. Raleigh Capital Management Inc. now owns 12,996 shares of the real estate investment trust’s stock valued at $1,641,000 after purchasing an additional 8,708 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Up 0.3 %

NYSE:PLD opened at $121.21 on Wednesday. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The firm has a fifty day simple moving average of $111.98 and a 200-day simple moving average of $117.97. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $112.26 billion, a P/E ratio of 30.30, a PEG ratio of 2.64 and a beta of 1.10.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.17%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Insider Buying and Selling

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 transaction 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 $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. 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 corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PLD shares. Mizuho cut their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada lifted their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. BTIG Research cut their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.78.

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.