Pictet Asset Management Holding SA Has $161.35 Million Position in Prologis, Inc. (NYSE:PLD)

Pictet Asset Management Holding SA lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 7.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,526,498 shares of the real estate investment trust’s stock after buying an additional 102,038 shares during the quarter. Pictet Asset Management Holding SA owned about 0.16% of Prologis worth $161,351,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PLD. Centaurus Financial Inc. bought a new stake in shares of Prologis during the third quarter worth approximately $112,000. Loomis Sayles & Co. L P boosted its stake in Prologis by 202.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,233 shares of the real estate investment trust’s stock valued at $156,000 after purchasing an additional 825 shares during the period. Townsquare Capital LLC grew its holdings in Prologis by 12.5% in the 3rd quarter. Townsquare Capital LLC now owns 15,307 shares of the real estate investment trust’s stock valued at $1,933,000 after buying an additional 1,705 shares in the last quarter. Bridgewater Associates LP increased its position in Prologis by 4.0% during the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock worth $338,000 after buying an additional 103 shares during the period. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Prologis by 31.0% during the third quarter. Glenmede Trust Co. NA now owns 29,171 shares of the real estate investment trust’s stock worth $3,684,000 after buying an additional 6,905 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of several research reports. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Wolfe Research decreased their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Robert W. Baird increased their price target on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, BTIG Research dropped their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Trading Down 0.3 %

NYSE PLD opened at $110.37 on Friday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The business’s fifty day moving average is $117.74 and its 200 day moving average is $116.45. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a market cap of $102.29 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm 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 of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.66%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was 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 in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

About Prologis

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.