UniSuper Management Pty Ltd Acquires 14,159 Shares of Prologis, Inc. (NYSE:PLD)

UniSuper Management Pty Ltd raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 319,821 shares of the real estate investment trust’s stock after acquiring an additional 14,159 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Prologis were worth $33,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Centaurus Financial Inc. purchased a new stake in Prologis in the third quarter worth about $112,000. Harvest Fund Management Co. Ltd bought a new position in shares of Prologis during the 3rd quarter valued at approximately $335,000. Independent Advisor Alliance increased its holdings in Prologis by 32.5% in the 3rd quarter. Independent Advisor Alliance now owns 15,054 shares of the real estate investment trust’s stock worth $1,901,000 after acquiring an additional 3,690 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in Prologis by 202.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,233 shares of the real estate investment trust’s stock worth $156,000 after acquiring an additional 825 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in Prologis by 5.1% during the third quarter. Brown Brothers Harriman & Co. now owns 4,132 shares of the real estate investment trust’s stock valued at $522,000 after purchasing an additional 202 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The shares were 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 of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Mizuho decreased their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Scotiabank dropped their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Price Performance

Shares of Prologis stock opened at $111.07 on Thursday. The stock has a market cap of $102.94 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth 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. The stock has a 50 day moving average price of $117.72 and a 200-day moving average price of $116.63. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.64%. Prologis’s payout ratio is 101.00%.

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.