Prologis, Inc. $PLD Stock Purchased by AIA Group Ltd

Key Points

• AIA Group increased its Prologis stake by 43.4% in the third quarter, adding 46,604 shares and ending the period with 154,045 shares valued at about $20 million.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $154.05; 19 analysts rate the stock Buy or Strong Buy, while six rate it Hold.
• Prologis announced a quarterly dividend of $1.07 per share, equivalent to $4.28 annually and a reported yield of 3.3%.

AIA Group Ltd increased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 43.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,045 shares of the real estate investment trust's stock after acquiring an additional 46,604 shares during the quarter. AIA Group Ltd's holdings in Prologis were worth $20,001,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Solstein Capital LLC bought a new stake in Prologis in the 2nd quarter valued at $25,000. Manning & Napier Advisors LLC acquired a new position in Prologis in the 2nd quarter valued at approximately $25,000. Clearstead Trust LLC bought a new stake in shares of Prologis in the 2nd quarter worth approximately $28,000. Johnson Financial Group Inc. acquired a new stake in Prologis during the second quarter worth $29,000. Finally, Kilter Group LLC acquired a new stake in shares of Prologis during the 2nd quarter valued at about $31,000. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PLD. Raymond James Financial raised shares of Prologis from a "market perform" rating to an "outperform" rating and set a $163.00 price target for the company in a research report on Wednesday, October 21st. Jefferies Financial Group reissued a "buy" rating and set a $149.00 price objective on shares of Prologis in a report on Monday. UBS Group set a $150.00 price objective on Prologis in a report on Friday, October 16th. Williams Trading set a $150.00 price target on Prologis in a research report on Friday, October 16th. Finally, Robert W. Baird dropped their price target on Prologis from $140.00 to $136.00 and set a "neutral" rating for the company in a report on Tuesday, October 20th. One equities 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $154.05.

Prologis Price Performance

PLD opened at $129.03 on Wednesday. Prologis, Inc. has a 52 week low of $121.40 and a 52 week high of $153.35. The company has a fifty day moving average price of $132.42 and a two-hundred day moving average price 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. The firm has a market capitalization of $122.64 billion, a PE ratio of 21.01, a P/E/G ratio of 1.48 and a beta of 1.27.

Prologis Dividend Announcement

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