OVERSEA CHINESE BANKING Corp Ltd Raises Stock Position in Prologis, Inc. (NYSE:PLD)

OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Prologis, Inc. (NYSE:PLD) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 162,595 shares of the real estate investment trust’s stock after acquiring an additional 2,216 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Prologis were worth $17,186,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PLD. Claro Advisors LLC purchased a new stake in shares of Prologis in the third quarter worth $296,000. TrinityPoint Wealth LLC increased its stake in Prologis by 10.4% in the 3rd quarter. TrinityPoint Wealth LLC now owns 3,602 shares of the real estate investment trust’s stock worth $455,000 after acquiring an additional 339 shares during the last quarter. Pathstone Holdings LLC raised its holdings in shares of Prologis by 0.6% in the 3rd quarter. Pathstone Holdings LLC now owns 99,551 shares of the real estate investment trust’s stock valued at $12,571,000 after acquiring an additional 557 shares in the last quarter. Caprock Group LLC boosted its position in shares of Prologis by 1.7% during the 3rd quarter. Caprock Group LLC now owns 14,226 shares of the real estate investment trust’s stock valued at $1,797,000 after acquiring an additional 236 shares during the last quarter. Finally, Verity & Verity LLC grew its holdings in shares of Prologis by 1.2% during the third quarter. Verity & Verity LLC now owns 103,569 shares of the real estate investment trust’s stock worth $13,079,000 after purchasing an additional 1,190 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s 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 transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

PLD has been the subject of several research analyst reports. BTIG Research dropped their target price 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. Scotiabank dropped their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Mizuho cut their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada raised their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Finally, BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Price Performance

Shares of Prologis stock opened at $112.27 on Wednesday. The company’s fifty day simple moving average is $117.16 and its two-hundred day simple moving average is $117.28. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. The firm has a market cap of $104.06 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.60%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

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.