Xponance Inc. Acquires 3,718 Shares of Prologis, Inc. (NYSE:PLD)

Xponance Inc. increased its holdings in Prologis, Inc. (NYSE:PLD) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,406 shares of the real estate investment trust’s stock after purchasing an additional 3,718 shares during the period. Xponance Inc.’s holdings in Prologis were worth $14,418,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PLD. Empirical Asset Management LLC boosted its holdings in 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 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. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after acquiring an additional 179,880 shares during the period. Worldquant Millennium Advisors LLC bought a new stake in Prologis during the third quarter valued at about $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Prologis during the third quarter valued at about $7,371,000. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PLD. Truist Financial upped their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Robert W. Baird upped their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. UBS Group upped their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, 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 report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

NYSE PLD opened at $112.27 on Wednesday. The firm has a market cap of $104.06 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 2.70 and a beta of 1.09. The company has a 50 day moving average of $117.16 and a 200-day moving average of $117.28. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $132.57.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.60%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

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.