Prologis, Inc. $PLD Stake Lifted by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its Prologis stake by 2,862.3% in the third quarter, ending with 67,452 shares valued at approximately $8.76 million. Institutional investors and hedge funds collectively own 93.5% of the company.
• Analysts maintain a generally positive outlook, with Prologis receiving a consensus “Moderate Buy” rating and an average price target of $154.68, despite some recent target reductions.
• Prologis shares opened at $128.09, while the company’s quarterly dividend of $1.07 represents an annualized payout of $4.28 and a 3.3% yield.

International Assets Investment Management LLC boosted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 2,862.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,452 shares of the real estate investment trust's stock after purchasing an additional 65,175 shares during the period. International Assets Investment Management LLC's holdings in Prologis were worth $8,758,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Baird Financial Group Inc. raised 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 acquiring an additional 21,000 shares in the last quarter. Nykredit A S acquired a new position in Prologis during the 2nd quarter worth $40,490,000. Callan Family Office LLC acquired a new position in Prologis during the 2nd quarter worth $3,394,000. BlackRock Inc. acquired a new position in Prologis during the 2nd quarter worth $14,006,587,000. Finally, AssuredPartners Investment Advisors LLC bought a new stake in shares of Prologis in the 2nd quarter worth about $3,436,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Truist Financial reduced their price target on shares of Prologis from $162.00 to $141.00 and set a "buy" rating on the stock in a research report on Friday, October 23rd. Wells Fargo & Company decreased their price target on Prologis from $167.00 to $166.00 and set an "overweight" rating for the company in a research note on Tuesday, September 1st. Williams Trading set a $150.00 price objective on Prologis in a report on Friday, October 16th. Barclays upped their price objective on Prologis from $139.00 to $156.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Finally, BTIG Research reaffirmed a "buy" rating and set a $170.00 target price on shares of Prologis in a 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $154.68.

Prologis Stock Up 0.1%

PLD stock opened at $128.09 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.81 and a quick ratio of 0.70. Prologis, Inc. has a 1-year low of $121.40 and a 1-year high of $153.35. The firm has a fifty day moving average price of $132.95 and a two-hundred day moving average price of $137.78. The firm 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 1.31.

Prologis Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. Prologis's payout ratio is 94.48%.

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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