Mitsubishi UFJ Asset Management Co. Ltd. Has $220.86 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 8.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,090,875 shares of the real estate investment trust’s stock after acquiring an additional 155,768 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Prologis were worth $220,859,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PLD. Murphy & Mullick Capital Management Corp bought a new position in shares of Prologis in the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. bought a new position in shares of Prologis in the fourth quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in shares of Prologis in the 4th quarter valued at approximately $30,000. Dunhill Financial LLC lifted its stake in Prologis by 239.5% during 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 during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Prologis during the 4th quarter worth $34,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred 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 sale, the executive now owns 7,977 shares of the company’s stock, 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 is accessible through this hyperlink. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. BMO Capital Markets lowered 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 research report on Friday, December 6th. UBS Group increased their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. BTIG Research lowered their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, Robert W. Baird raised their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

PLD opened at $111.07 on Thursday. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The firm has a market cap of $102.94 billion, a PE ratio of 27.77, a P/E/G ratio of 2.70 and a beta of 1.09. The stock has a 50-day moving average price of $117.72 and a 200-day moving average price of $116.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.64%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is presently 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.