Prologis, Inc. (NYSE:PLD) Shares Bought by First American Bank

First American Bank boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,103 shares of the real estate investment trust’s stock after purchasing an additional 604 shares during the period. First American Bank’s holdings in Prologis were worth $4,133,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PLD. State Street Corp lifted its position in shares of Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after acquiring an additional 767,609 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after purchasing an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after purchasing an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Prologis by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock valued at $631,266,000 after purchasing an additional 32,644 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Royal Bank of Canada upped their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Barclays upped their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Scotiabank lowered their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Robert W. Baird increased their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, UBS Group raised their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have given 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 an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Performance

Shares of PLD opened at $122.91 on Friday. The firm has a market cap of $113.92 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The company’s fifty day moving average is $113.87 and its 200-day moving average is $118.05. 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, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. 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 3.29%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is 101.00%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’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 sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.56% of the company’s stock.

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.