Daiwa Securities Group Inc. Acquires 85,575 Shares of Prologis, Inc. (NYSE:PLD)

Daiwa Securities Group Inc. grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,860,935 shares of the real estate investment trust’s stock after buying an additional 85,575 shares during the period. Prologis makes up 2.8% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 7th largest holding. Daiwa Securities Group Inc. owned about 0.63% of Prologis worth $619,501,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PLD. Dunhill Financial LLC boosted its stake in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Prologis during the 4th quarter worth about $30,000. Promus Capital LLC acquired a new stake in shares of Prologis in the 4th quarter valued at about $34,000. Whipplewood Advisors LLC bought a new stake in Prologis in the 4th quarter valued at about $34,000. Finally, Coastline Trust Co acquired a new position in Prologis during the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

PLD opened at $119.89 on Monday. The firm has a market cap of $111.12 billion, a P/E ratio of 29.97, a PEG ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The firm has a 50-day moving average of $115.96 and a 200 day moving average of $117.93.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.37%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Analyst Ratings Changes

Several equities research analysts have recently commented on PLD shares. Scotiabank decreased their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Barclays boosted their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Truist Financial raised their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, Royal Bank of Canada raised their price target on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given 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 target price of $128.78.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by insiders.

Prologis 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.