Jennison Associates LLC Buys 829,504 Shares of Prologis, Inc. (NYSE:PLD)

Jennison Associates LLC boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 395.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,039,333 shares of the real estate investment trust’s stock after purchasing an additional 829,504 shares during the period. Jennison Associates LLC owned about 0.11% of Prologis worth $109,858,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dunhill Financial LLC boosted its stake in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the last quarter. Hara Capital LLC purchased a new position in Prologis in the third quarter worth about $48,000. Coastline Trust Co bought a new stake in shares of Prologis during the 3rd quarter valued at about $52,000. Fortitude Family Office LLC increased its position in shares of Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares during the last quarter. Finally, Hanson & Doremus Investment Management lifted its stake in shares of Prologis by 42.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on PLD shares. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Robert W. Baird upped their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday. Wolfe Research reduced their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

Shares of Prologis stock opened at $117.88 on Tuesday. The firm has a market cap of $109.17 billion, a PE ratio of 29.47, a PEG ratio of 2.66 and a beta of 1.09. The stock has a 50 day moving average of $111.03 and a 200 day moving average of $118.37. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

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.