Prologis, Inc. (NYSE:PLD) Shares Acquired by PGGM Investments

PGGM Investments raised its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 29.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,169,612 shares of the real estate investment trust's stock after acquiring an additional 717,172 shares during the period. Prologis makes up about 6.4% of PGGM Investments' investment portfolio, making the stock its largest position. PGGM Investments owned 0.34% of Prologis worth $422,509,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Transcend Capital Advisors LLC boosted its stake in shares of Prologis by 4.3% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,646 shares of the real estate investment trust's stock valued at $619,000 after purchasing an additional 190 shares during the period. Intact Investment Management Inc. boosted its stake in shares of Prologis by 57.8% during the fourth quarter. Intact Investment Management Inc. now owns 57,900 shares of the real estate investment trust's stock valued at $7,718,000 after purchasing an additional 21,200 shares during the period. Addison Advisors LLC purchased a new stake in shares of Prologis during the fourth quarter valued at $135,000. Headlands Technologies LLC purchased a new stake in shares of Prologis during the fourth quarter valued at $45,000. Finally, Golden State Equity Partners purchased a new stake in shares of Prologis during the fourth quarter valued at $1,236,000. Institutional investors own 93.50% of the company's stock.

Analyst Ratings Changes

PLD has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Prologis from a "hold" rating to a "sell" rating in a research note on Wednesday. UBS Group lowered their price objective on shares of Prologis from $151.00 to $138.00 and set a "buy" rating for the company in a research note on Thursday, April 18th. Raymond James upped their price objective on shares of Prologis from $130.00 to $145.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, January 24th. Evercore ISI lowered their price objective on shares of Prologis from $136.00 to $123.00 and set an "in-line" rating for the company in a research note on Thursday, April 18th. Finally, TheStreet raised shares of Prologis from a "c+" rating to a "b-" rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $134.24.

Prologis Stock Performance

Shares of Prologis stock traded up $0.71 during midday trading on Friday, hitting $104.06. The company had a trading volume of 4,037,744 shares, compared to its average volume of 4,340,292. The stock has a market cap of $96.26 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 2.15 and a beta of 1.00. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $125.06 and a 200 day simple moving average of $121.94. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a $0.96 dividend. This is a positive change from Prologis's previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Friday, March 15th. Prologis's dividend payout ratio (DPR) is presently 112.28%.

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.