Prologis, Inc. (NYSE:PLD) Shares Purchased by South Dakota Investment Council

South Dakota Investment Council grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 163,133 shares of the real estate investment trust’s stock after purchasing an additional 6,500 shares during the quarter. South Dakota Investment Council’s holdings in Prologis were worth $21,746,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PLD. Massachusetts Financial Services Co. MA raised its holdings in shares of Prologis by 6.7% in the 3rd 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 buying an additional 1,034,211 shares during the period. FMR LLC increased its stake in Prologis by 1.2% during the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after buying an additional 197,693 shares during the period. Northern Trust Corp increased its stake in Prologis by 0.7% during the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after buying an additional 92,036 shares during the period. Principal Financial Group Inc. lifted its holdings in Prologis by 2.3% during the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock worth $1,369,140,000 after buying an additional 268,667 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Prologis by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,344,542 shares of the real estate investment trust’s stock valued at $1,048,551,000 after buying an additional 121,159 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Royal Bank of Canada lifted their price target on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. UBS Group reduced their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Mizuho reaffirmed a “neutral” rating and set a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $135.41.

Prologis Stock Performance

Shares of Prologis stock traded up $0.78 during trading hours on Tuesday, hitting $104.86. 4,231,958 shares of the company were exchanged, compared to its average volume of 3,454,940. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average of $126.79 and a 200-day moving average of $122.16. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The stock has a market capitalization of $97.00 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 2.08 and a beta of 1.00.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is currently 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.