6,674 Shares in Prologis, Inc. (NYSE:PLD) Purchased by Sapient Capital LLC

Sapient Capital LLC purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 6,674 shares of the real estate investment trust’s stock, valued at approximately $890,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PLD. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Prologis in the third quarter valued at about $185,164,000. Massachusetts Financial Services Co. MA boosted its stake in Prologis by 6.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after acquiring an additional 1,034,211 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Prologis by 43.0% in the third quarter. Envestnet Asset Management Inc. now owns 2,402,293 shares of the real estate investment trust’s stock valued at $269,561,000 after acquiring an additional 721,910 shares during the last quarter. PGGM Investments boosted its stake in Prologis by 29.2% in the fourth quarter. PGGM Investments now owns 3,169,612 shares of the real estate investment trust’s stock valued at $422,509,000 after acquiring an additional 717,172 shares during the last quarter. Finally, Barclays PLC boosted its stake in Prologis by 23.0% in the third quarter. Barclays PLC now owns 2,809,487 shares of the real estate investment trust’s stock valued at $315,253,000 after acquiring an additional 525,171 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLD has been the topic of a number of research analyst reports. Robert W. Baird dropped their target price on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday. UBS Group dropped their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Morgan Stanley boosted their price target on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. BMO Capital Markets lowered shares of Prologis from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $145.00 to $112.00 in a research report on Monday, April 22nd. Finally, Royal Bank of Canada boosted their price target on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average target price of $132.35.

Prologis Price Performance

Prologis stock traded up $1.36 during midday trading on Friday, reaching $105.89. 3,517,673 shares of the stock were exchanged, compared to its average volume of 4,890,799. The company’s fifty day moving average is $122.11 and its 200-day moving average is $121.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $98.04 billion, a PE ratio of 30.96, a PEG ratio of 2.20 and a beta of 1.05. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.63%. Prologis’s dividend payout ratio is presently 112.28%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.