Aviva PLC Raises Stake in Prologis, Inc. (NYSE:PLD)

Aviva PLC increased its stake in Prologis, Inc. (NYSE:PLD) by 36.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 695,187 shares of the real estate investment trust’s stock after buying an additional 186,187 shares during the period. Aviva PLC’s holdings in Prologis were worth $73,481,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp bought a new stake in shares of Prologis during the fourth quarter valued at approximately $26,000. Crowley Wealth Management Inc. purchased a new position in Prologis during the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in Prologis during the 4th quarter valued at $30,000. Dunhill Financial LLC lifted its holdings in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in shares of Prologis during the 4th quarter worth $34,000. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PLD shares. Royal Bank of Canada lifted their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Truist Financial upped their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. BTIG Research cut their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Finally, Mizuho cut their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the 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 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of PLD opened at $98.10 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company’s fifty day moving average price is $116.86 and its 200-day moving average price is $115.64. Prologis, Inc. has a 1-year low of $95.34 and a 1-year high of $132.57. The firm has a market capitalization of $90.94 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.12%. Prologis’s dividend payout ratio is currently 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.