Capital Research Global Investors Purchases 2,500,761 Shares of Prologis, Inc. (NYSE:PLD)

Capital Research Global Investors increased its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 25.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,345,523 shares of the real estate investment trust's stock after acquiring an additional 2,500,761 shares during the quarter. Capital Research Global Investors owned 1.33% of Prologis worth $1,304,922,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Pine Valley Investments Ltd Liability Co raised its stake in Prologis by 14.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 18,163 shares of the real estate investment trust's stock worth $2,294,000 after buying an additional 2,245 shares during the period. World Investment Advisors LLC bought a new stake in shares of Prologis during the third quarter valued at approximately $989,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Prologis during the third quarter worth approximately $1,348,000. Destination Wealth Management lifted its holdings in shares of Prologis by 121.5% in the 3rd quarter. Destination Wealth Management now owns 4,504 shares of the real estate investment trust's stock worth $569,000 after purchasing an additional 2,471 shares in the last quarter. Finally, Tidal Investments LLC grew its position in Prologis by 12.7% in the 3rd quarter. Tidal Investments LLC now owns 200,250 shares of the real estate investment trust's stock valued at $25,288,000 after purchasing an additional 22,516 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Analysts Set New Price Targets

PLD has been the subject of a number of analyst reports. CJS Securities reduced their price objective on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. BNP Paribas raised Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Evercore ISI dropped their target price on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday, April 17th. Finally, Raymond James reaffirmed a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and an average target price of $123.32.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.57% of the company's stock.

Prologis Stock Performance

PLD stock traded up $1.61 during midday trading on Thursday, reaching $103.09. 2,200,005 shares of the company's stock traded hands, compared to its average volume of 4,145,485. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a 50-day moving average price of $110.21 and a two-hundred day moving average price of $112.79. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm has a market capitalization of $95.56 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20.

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

Prologis Increases Dividend

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

About Prologis

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.