Paralel Advisors LLC Takes $2.04 Million Position in Prologis, Inc. (NYSE:PLD)

Paralel Advisors LLC bought a new position in Prologis, Inc. (NYSE:PLDFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,276 shares of the real estate investment trust’s stock, valued at approximately $2,036,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its stake in shares of Prologis by 6.7% during 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 purchasing an additional 1,034,211 shares in the last quarter. FMR LLC grew its holdings in Prologis by 1.2% during the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after acquiring an additional 197,693 shares during the period. Northern Trust Corp grew its holdings in Prologis by 0.7% during the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock worth $1,427,453,000 after acquiring an additional 92,036 shares during the period. Principal Financial Group Inc. raised its position in Prologis by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock worth $1,642,997,000 after acquiring an additional 123,902 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Prologis by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock valued at $1,268,992,000 after acquiring an additional 175,276 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Down 0.8 %

Shares of NYSE:PLD traded down $0.89 during trading on Monday, reaching $104.75. 3,107,900 shares of the company traded hands, compared to its average volume of 3,560,275. The firm has a fifty day simple moving average of $114.22 and a 200 day simple moving average of $122.52. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The firm has a market cap of $96.98 billion, a P/E ratio of 30.63, a price-to-earnings-growth ratio of 2.33 and a beta of 1.05.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.67%. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Wall Street Analyst Weigh In

Several analysts recently commented on PLD shares. Robert W. Baird cut their target price on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada cut their target price on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Argus reduced their target price on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Mizuho reiterated a “neutral” rating and issued a $130.00 price target on shares of Prologis in a research report on Tuesday, April 2nd. Five investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $130.35.

View Our Latest Stock Report on PLD

About Prologis

(Free Report)

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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