National Pension Service Acquires 44,472 Shares of Prologis, Inc. (NYSE:PLD)

National Pension Service increased its position in shares of Prologis, Inc. (NYSE:PLD) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,671,326 shares of the real estate investment trust’s stock after purchasing an additional 44,472 shares during the quarter. National Pension Service’s holdings in Prologis were worth $222,788,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Thompson Investment Management Inc. acquired a new stake in Prologis during the 4th quarter worth approximately $28,000. Salem Investment Counselors Inc. acquired a new stake in Prologis during the 4th quarter worth approximately $37,000. FNY Investment Advisers LLC acquired a new stake in Prologis during the 4th quarter worth approximately $39,000. Bogart Wealth LLC lifted its holdings in Prologis by 170.9% during the 4th quarter. Bogart Wealth LLC now owns 317 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 200 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in Prologis by 178.6% during the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 250 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLD has been the subject of several research reports. The Goldman Sachs Group dropped their price target on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 22nd. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Royal Bank of Canada dropped their price objective on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a report on Monday. Raymond James lifted their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Finally, BMO Capital Markets cut Prologis from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $145.00 to $112.00 in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.12.

Prologis Trading Up 1.0 %

Shares of PLD stock traded up $1.03 on Thursday, hitting $106.91. The company had a trading volume of 1,128,824 shares, compared to its average volume of 3,530,788. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $98.98 billion, a P/E ratio of 31.19, a P/E/G ratio of 2.20 and a beta of 1.05. The stock’s 50-day moving average is $121.06 and its two-hundred day moving average is $121.90.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.59%. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is 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.