Prologis, Inc. (NYSE:PLD) Shares Bought by AIA Group Ltd

AIA Group Ltd grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 53.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 353,188 shares of the real estate investment trust’s stock after buying an additional 123,347 shares during the period. Prologis accounts for about 1.5% of AIA Group Ltd’s holdings, making the stock its 14th largest holding. AIA Group Ltd’s holdings in Prologis were worth $45,992,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Columbia Trust Co 01012016 boosted its holdings in Prologis by 16.0% in the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after acquiring an additional 723 shares during the last quarter. Nordea Investment Management AB boosted its stake in Prologis by 380.0% in the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after acquiring an additional 263,649 shares during the period. Janney Capital Management LLC boosted its stake in Prologis by 18.8% in the fourth quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust’s stock valued at $3,182,000 after acquiring an additional 3,773 shares during the period. Cyndeo Wealth Partners LLC boosted its position in shares of Prologis by 39.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock worth $5,599,000 after buying an additional 11,882 shares during the period. Finally, Atalanta Sosnoff Capital LLC acquired a new stake in Prologis in the fourth quarter worth approximately $18,551,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLD. BMO Capital Markets lowered shares of Prologis from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $145.00 to $112.00 in a research report on Monday, April 22nd. Robert W. Baird cut their target price on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Evercore ISI lowered their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. The Goldman Sachs Group reduced their target price on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $129.76.

Prologis Stock Down 0.2 %

PLD stock traded down $0.26 during mid-day trading on Friday, reaching $120.15. The company had a trading volume of 3,994,354 shares, compared to its average volume of 3,696,111. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a market capitalization of $111.24 billion, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 2.76 and a beta of 1.06. The firm has a fifty day simple moving average of $110.40 and a 200 day simple moving average of $120.70.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.20%. Prologis’s dividend payout ratio 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 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.