300,623 Shares of Prologis, Inc. $PLD Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 300,623 Prologis shares during the third quarter, valued at approximately $39.0 million. Institutional investors and hedge funds collectively own 93.5% of the company.
• Prologis shares opened at $128.09, below their 50-day and 200-day moving averages, with a 52-week range of $121.40 to $153.35. The company has a market capitalization of approximately $121.75 billion.
• Prologis recently paid a quarterly dividend of $1.07 per share, implying an annualized dividend of $4.28 and a 3.3% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $154.68.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 300,623 shares of the real estate investment trust's stock, valued at approximately $39,033,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Solstein Capital LLC bought a new stake in shares of Prologis during the second quarter valued at approximately $25,000. Manning & Napier Advisors LLC bought a new position in Prologis in the 2nd quarter worth approximately $25,000. Clearstead Trust LLC bought a new position in Prologis in the 2nd quarter worth approximately $28,000. Johnson Financial Group Inc. acquired a new position in Prologis during the 2nd quarter worth $29,000. Finally, Kilter Group LLC acquired a new position in Prologis during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Price Performance

NYSE PLD opened at $128.09 on Monday. The business has a 50 day simple moving average of $132.95 and a 200 day simple moving average of $137.78. Prologis, Inc. has a 52-week low of $121.40 and a 52-week high of $153.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $121.75 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.46 and a beta of 1.27.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Wednesday, September 16th. Prologis's dividend payout ratio is 94.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Weiss Ratings lowered Prologis from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, August 26th. Wells Fargo & Company dropped their target price on Prologis from $167.00 to $166.00 and set an "overweight" rating for the company in a research report on Tuesday, September 1st. UBS Group set a $150.00 target price on Prologis in a research report on Friday, October 16th. Truist Financial cut their price target on Prologis from $162.00 to $141.00 and set a "buy" rating on the stock in a research note on Friday, October 23rd. Finally, Robert W. Baird decreased their price target on Prologis from $140.00 to $136.00 and set a "neutral" rating on the stock in a report on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Prologis has an average rating of "Moderate Buy" and an average target price of $154.68.

About Prologis

Prologis, Inc is a global real estate investment trust that owns, develops, acquires and manages logistics properties. Its portfolio primarily includes warehouses, distribution centers and fulfillment facilities used by retailers, manufacturers, transportation companies and other businesses to support supply-chain operations and e-commerce.

The company also provides property management, development and leasing services, along with related supply-chain and customer solutions. Through its Prologis Essentials platform, it offers services and technologies designed to help customers improve warehouse operations, including energy, mobility and operational solutions.

Prologis serves major population centers and trade corridors across North America, Europe, Asia and Latin America.

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