Prologis, Inc. (NYSE:PLD) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 167,848 shares of the real estate investment trust’s stock after purchasing an additional 12,631 shares during the quarter. Prologis comprises 0.5% of Metis Global Partners LLC’s portfolio, making the stock its 27th largest position. Metis Global Partners LLC’s holdings in Prologis were worth $17,742,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Empirical Asset Management LLC boosted its holdings in shares of Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after acquiring an additional 52,963 shares during the period. Cardano Risk Management B.V. boosted its holdings in shares of Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after acquiring an additional 25,266 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in shares of Prologis during the third quarter valued at $1,051,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Prologis during the third quarter valued at $7,371,000. Finally, Red Cedar Investment Management LLC acquired a new position in shares of Prologis during the third quarter valued at $1,230,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PLD shares. Robert W. Baird boosted their price target on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Scotiabank reduced their price objective on shares of 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 reduced their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. UBS Group upped their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Barclays upped their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Activity

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 value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by corporate insiders.

Prologis Price Performance

NYSE PLD opened at $123.88 on Friday. The stock’s 50-day moving average price is $114.28 and its two-hundred day moving average price is $118.08. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market cap of $114.82 billion, a PE ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

Prologis Increases Dividend

The business also recently disclosed 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 represents a $4.04 annualized dividend and a yield of 3.26%. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is presently 101.00%.

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.