Prologis, Inc. (NYSE:PLD) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,021,300 shares of the real estate investment trust's stock after selling 297,588 shares during the quarter. Prologis comprises about 5.0% of Daiwa Securities Group Inc.'s investment portfolio, making the stock its largest holding. Daiwa Securities Group Inc. owned about 0.65% of Prologis worth $802,639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PLD. Norges Bank bought a new stake in Prologis in the fourth quarter worth about $980,759,000. Morgan Stanley raised its position in Prologis by 48.0% in the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust's stock worth $1,643,359,000 after acquiring an additional 4,729,040 shares in the last quarter. Moneta Group Investment Advisors LLC bought a new stake in Prologis in the fourth quarter worth about $232,205,000. Legal & General Group Plc raised its position in Prologis by 22.4% in the fourth quarter. Legal & General Group Plc now owns 11,130,145 shares of the real estate investment trust's stock worth $1,254,702,000 after acquiring an additional 2,038,187 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Prologis during the 3rd quarter worth about $185,164,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent analyst reports. TheStreet upgraded Prologis from a "c+" rating to a "b-" rating in a report on Friday, January 26th. Morgan Stanley lifted their target price on Prologis from $128.00 to $141.00 and gave the company an "overweight" rating in a research note on Wednesday, January 24th. Royal Bank of Canada lifted their target price on Prologis from $128.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, February 16th. Robert W. Baird lifted their target price on Prologis from $133.00 to $137.00 and gave the company a "neutral" rating in a research note on Tuesday, January 23rd. Finally, Barclays lowered their target price on Prologis from $141.00 to $135.00 and set an "overweight" rating on the stock in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $141.27.

Prologis Stock Down 7.2 %

Shares of NYSE PLD traded down $8.25 during trading hours on Wednesday, hitting $106.49. The stock had a trading volume of 10,489,255 shares, compared to its average volume of 3,355,902. The company has a market capitalization of $98.51 billion, a P/E ratio of 32.37, a P/E/G ratio of 2.31 and a beta of 1.00. The firm's 50-day moving average price is $128.99 and its two-hundred day moving average price is $122.19. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 EPS. Analysts anticipate that Prologis, Inc. will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.61%. This is a boost from Prologis's previous quarterly dividend of $0.87. Prologis's dividend payout ratio is presently 116.72%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.