Massachusetts Financial Services Co. MA Boosts Stake in Prologis, Inc. (NYSE:PLD)

Massachusetts Financial Services Co. MA lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,596,799 shares of the real estate investment trust’s stock after purchasing an additional 334,907 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.79% of Prologis worth $1,754,282,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RFG Bristol Wealth Advisors LLC acquired a new position in Prologis in the fourth quarter valued at about $456,000. Headlands Technologies LLC raised its stake in shares of Prologis by 283.0% in the 4th quarter. Headlands Technologies LLC now owns 4,845 shares of the real estate investment trust’s stock valued at $512,000 after acquiring an additional 3,580 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Prologis by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock worth $2,252,853,000 after acquiring an additional 610,251 shares during the last quarter. HighPoint Advisor Group LLC boosted its position in shares of Prologis by 4.3% during the 4th quarter. HighPoint Advisor Group LLC now owns 14,949 shares of the real estate investment trust’s stock worth $1,580,000 after purchasing an additional 612 shares during the period. Finally, Family Legacy Inc. increased its holdings in Prologis by 5.7% in the 4th quarter. Family Legacy Inc. now owns 18,653 shares of the real estate investment trust’s stock valued at $1,968,000 after purchasing an additional 1,001 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

PLD has been the topic of a number of research reports. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Truist Financial raised their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada lifted their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Robert W. Baird increased their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Trading Down 0.3 %

NYSE:PLD opened at $111.49 on Wednesday. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The stock has a market cap of $103.33 billion, a P/E ratio of 27.87, a P/E/G 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 simple moving average of $117.67 and a 200-day simple moving average of $115.98.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.62%. The ex-dividend date was Tuesday, March 18th. Prologis’s dividend payout ratio is currently 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.