Prologis, Inc. $PLD Stake Increased by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management increased its Prologis stake by 11.1% in the third quarter, adding 16,915 shares to hold 169,403 shares valued at approximately $22.5 million.
• Institutional investors and hedge funds own 93.5% of Prologis shares. Analysts have a “Moderate Buy” consensus rating and an average price target of $154.05.
• Prologis pays a quarterly dividend of $1.07 per share, equivalent to $4.28 annualized and a 3.3% yield.

Rakuten Investment Management Inc. raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 169,403 shares of the real estate investment trust's stock after buying an additional 16,915 shares during the period. Rakuten Investment Management Inc.'s holdings in Prologis were worth $22,465,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Baird Financial Group Inc. grew its holdings in Prologis by 20.6% in the second quarter. Baird Financial Group Inc. now owns 122,809 shares of the real estate investment trust's stock valued at $16,637,000 after purchasing an additional 21,000 shares during the last quarter. Nykredit A S acquired a new position in shares of Prologis during the 2nd quarter worth $40,490,000. Callan Family Office LLC acquired a new position in shares of Prologis during the 2nd quarter worth $3,394,000. BlackRock Inc. acquired a new position in shares of Prologis during the 2nd quarter worth $14,006,587,000. Finally, AssuredPartners Investment Advisors LLC acquired a new position in shares of Prologis during the 2nd quarter worth $3,436,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PLD shares. Wall Street Zen raised shares of Prologis from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. Royal Bank Of Canada upgraded shares of Prologis from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $148.00 to $160.00 in a report on Tuesday, August 4th. KeyCorp restated a "sector weight" rating on shares of Prologis in a research report on Monday, October 19th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $149.00 price target on shares of Prologis in a report on Monday. Finally, Williams Trading set a $150.00 price target on shares of Prologis in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $154.05.

Prologis Stock Performance

Prologis stock opened at $129.03 on Wednesday. Prologis, Inc. has a fifty-two week low of $121.40 and a fifty-two week high of $153.35. The company has a market capitalization of $122.64 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 1.48 and a beta of 1.27. The stock has a fifty day moving average of $132.42 and a two-hundred day moving average of $137.76. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, September 16th. Prologis's dividend payout ratio (DPR) is currently 94.48%.

Prologis Profile

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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