Norinchukin Bank The Purchases 3,228 Shares of Prologis, Inc. (NYSE:PLD)

Norinchukin Bank The grew its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 4.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,876 shares of the real estate investment trust's stock after buying an additional 3,228 shares during the period. Norinchukin Bank The's holdings in Prologis were worth $8,866,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PLD. Phoenix Financial Ltd. lifted its holdings in shares of Prologis by 1.0% in the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock worth $955,000 after purchasing an additional 86 shares in the last quarter. Principle Wealth Partners LLC lifted its stake in shares of Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock valued at $349,000 after buying an additional 92 shares in the last quarter. Black Diamond Financial LLC grew its holdings in shares of Prologis by 2.2% during the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock valued at $449,000 after buying an additional 93 shares during the last quarter. Berkshire Bank increased its position in shares of Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock worth $443,000 after acquiring an additional 95 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its position in Prologis by 1.7% in the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock valued at $642,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Price Performance

Shares of Prologis stock traded up $1.55 on Thursday, reaching $103.03. The stock had a trading volume of 2,200,005 shares, compared to its average volume of 4,145,485. The business's 50 day moving average is $110.21 and its two-hundred day moving average is $112.79. The company has a market cap of $95.51 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. As a group, research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a $1.01 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.92%. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Mizuho reduced their target price on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Evercore ISI dropped their price target on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research report on Thursday, April 17th. Finally, Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $123.32.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.57% of the company's stock.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.