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

AIA Group Ltd lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 422,728 shares of the real estate investment trust’s stock after buying an additional 7,746 shares during the period. Prologis accounts for approximately 1.1% of AIA Group Ltd’s portfolio, making the stock its 22nd largest holding. AIA Group Ltd’s holdings in Prologis were worth $44,682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principle Wealth Partners LLC grew its position in shares of Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after purchasing an additional 92 shares during the period. Black Diamond Financial LLC lifted its holdings in shares of Prologis by 2.2% during the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock worth $449,000 after acquiring an additional 93 shares during the period. Berkshire Bank boosted its position in shares of Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after acquiring an additional 95 shares during the last quarter. J.Safra Asset Management Corp boosted its position in shares of Prologis by 22.3% in the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 102 shares during the last quarter. Finally, Bridgewater Associates LP increased its position in Prologis by 4.0% during the third quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock worth $338,000 after purchasing an additional 103 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on 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 approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PLD shares. Scotiabank dropped 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. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. UBS Group increased their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada lifted their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

Shares of PLD stock opened at $110.37 on Monday. The company has a market cap of $102.29 billion, a P/E ratio of 27.59, a PEG ratio of 2.70 and a beta of 1.09. The business has a 50 day moving average of $117.74 and a two-hundred day moving average of $116.24. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is presently 101.00%.

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.