Prologis, Inc. (NYSE:PLD) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. raised its position in Prologis, Inc. (NYSE:PLD) by 57.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 57,900 shares of the real estate investment trust’s stock after acquiring an additional 21,200 shares during the period. Intact Investment Management Inc.’s holdings in Prologis were worth $7,718,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Addison Advisors LLC acquired a new position in Prologis in the 4th quarter valued at about $135,000. Headlands Technologies LLC acquired a new position in Prologis in the 4th quarter valued at about $45,000. Golden State Equity Partners acquired a new position in Prologis in the 4th quarter valued at about $1,236,000. State of New Jersey Common Pension Fund D boosted its holdings in Prologis by 0.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 1,211,219 shares of the real estate investment trust’s stock valued at $161,455,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Bailard Inc. boosted its holdings in Prologis by 0.3% in the 4th quarter. Bailard Inc. now owns 100,533 shares of the real estate investment trust’s stock valued at $13,401,000 after purchasing an additional 296 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PLD. Barclays decreased their target price on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. Raymond James boosted their price target on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Morgan Stanley upped their target price on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada upped their target price 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.24.

Prologis Stock Up 0.7 %

Shares of Prologis stock traded up $0.71 during trading hours on Friday, hitting $104.06. The company had a trading volume of 4,037,744 shares, compared to its average volume of 4,340,292. The company’s 50-day moving average is $125.06 and its two-hundred day moving average is $121.86. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.08 and a quick ratio of 0.30. The company has a market cap of $96.26 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 2.15 and a beta of 1.00.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.69%. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend 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.