Resona Asset Management Co. Ltd. Takes Position in Prologis, Inc. (NYSE:PLD)

Resona Asset Management Co. Ltd. purchased a new position in Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 526,813 shares of the real estate investment trust’s stock, valued at approximately $55,512,000.

Several other institutional investors and hedge funds have also bought and sold shares of PLD. Murphy & Mullick Capital Management Corp bought a new position in shares of Prologis in the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis in the fourth quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in Prologis in the fourth quarter worth $30,000. Dunhill Financial LLC raised its holdings in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in Prologis during the fourth quarter valued at $34,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Truist Financial boosted their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Finally, UBS Group boosted their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Trading Down 3.4 %

NYSE:PLD opened at $98.10 on Friday. The company has a 50 day simple moving average of $116.86 and a two-hundred day simple moving average of $115.64. The company has a market cap of $90.94 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $95.34 and a 12 month high of $132.57.

Prologis Increases Dividend

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

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.