Geode Capital Management LLC Increases Holdings in Prologis, Inc. (NYSE:PLD)

Geode Capital Management LLC grew its position in shares of Prologis, Inc. (NYSE:PLD) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,372,231 shares of the real estate investment trust’s stock after buying an additional 610,251 shares during the quarter. Geode Capital Management LLC’s holdings in Prologis were worth $2,252,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Principle Wealth Partners LLC lifted its holdings in Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after acquiring an additional 92 shares during the period. Black Diamond Financial LLC grew its stake in shares of Prologis by 2.2% during the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 93 shares during the period. Berkshire Bank increased its position in shares of Prologis by 2.3% during the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in shares of Prologis by 22.3% in the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 102 shares during the period. Finally, Bridgewater Associates LP boosted its holdings in shares of Prologis by 4.0% in the third quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock worth $338,000 after buying an additional 103 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE:PLD opened at $111.79 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm has a market cap of $103.61 billion, a price-to-earnings ratio of 27.95, a P/E/G ratio of 2.70 and a beta of 1.09. The firm has a fifty day moving average price of $117.78 and a 200 day moving average price of $116.11. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.61%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Analyst Ratings Changes

PLD has been the subject of a number of research reports. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Wolfe Research reduced their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Scotiabank decreased their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, Royal Bank of Canada upped their price target on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the 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 completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.

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.