65,175 Prologis, Inc. $PLD Shares Purchased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its Prologis stake by 65,175 shares, a 2,862.3% rise, ending the third quarter with 67,452 shares worth about $8.76 million.
• Institutional investors own 93.5% of Prologis shares. The stock opened at $127.11, while analysts’ consensus rating was “Moderate Buy” with an average price target of $154.05.
• Prologis declared a quarterly dividend of $1.07 per share, equivalent to $4.28 annually and a 3.4% yield; its payout ratio was 94.48%.

International Assets Investment Management LLC lifted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 2,862.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,452 shares of the real estate investment trust's stock after acquiring an additional 65,175 shares during the quarter. International Assets Investment Management LLC's holdings in Prologis were worth $8,758,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Prologis in the 2nd quarter worth about $14,006,587,000. Legal & General Group Plc purchased a new stake in Prologis in the 2nd quarter valued at about $1,473,965,000. Bank of America Corp DE purchased a new stake in Prologis in the 2nd quarter valued at about $1,427,256,000. Deutsche Bank AG purchased a new stake in Prologis in the 2nd quarter valued at about $968,959,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Prologis during the 2nd quarter worth approximately $742,843,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

Shares of PLD stock opened at $127.11 on Friday. The firm has a market cap of $120.82 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 1.44 and a beta of 1.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.81 and a current ratio of 0.81. Prologis, Inc. has a 52 week low of $121.40 and a 52 week high of $153.35. The firm's 50-day simple moving average is $131.60 and its two-hundred day simple moving average is $137.71.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were paid a dividend of $1.07 per share. The ex-dividend date was Wednesday, September 16th. This represents a $4.28 annualized dividend and a dividend yield of 3.4%. Prologis's dividend payout ratio (DPR) is presently 94.48%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PLD. Mizuho boosted their target price on Prologis from $150.00 to $159.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Wells Fargo & Company decreased their price target on Prologis from $166.00 to $158.00 and set an "overweight" rating for the company in a research report on Monday, November 2nd. UBS Group set a $150.00 price target on Prologis in a report on Friday, October 16th. Raymond James Financial raised Prologis from a "market perform" rating to an "outperform" rating and set a $163.00 price objective on the stock in a research report on Wednesday, October 21st. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $149.00 price objective on shares of Prologis in a research report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $154.05.

Prologis Profile

Prologis is a global logistics real estate company that owns, develops and operates warehouses, distribution centers and other facilities used to store and move goods. Its properties support customers in industries including retail, manufacturing, transportation and e-commerce.

The company also provides property management and development services and invests in logistics real estate through investment management platforms. Its facilities are located in major markets across North America, Europe, Asia and Latin America.

Prologis traces its roots to 1983, when it was established as Security Capital Industrial Trust.

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