Fmr LLC Has $1.89 Billion Holdings in Prologis, Inc. (NYSE:PLD)

Fmr LLC grew its position in Prologis, Inc. (NYSE:PLD) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,878,397 shares of the real estate investment trust’s stock after buying an additional 1,875,978 shares during the quarter. Fmr LLC owned approximately 1.93% of Prologis worth $1,889,747,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in Prologis during the fourth quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new position in shares of Prologis in the 4th quarter valued at about $30,000. Dunhill Financial LLC lifted its position in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Prologis during the fourth quarter worth approximately $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s 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 transaction, the executive now owns 7,977 shares in the company, 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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE PLD opened at $98.10 on Monday. Prologis, Inc. has a 12 month low of $95.34 and a 12 month high of $132.57. The company has a market cap of $90.94 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.70 and a beta of 1.20. The business’s 50 day moving average is $116.86 and its two-hundred day moving average is $115.46. 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 4.12%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is 101.00%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Royal Bank of Canada upped their target price on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Wolfe Research reduced their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.78.

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.