Prologis, Inc. (NYSE:PLD) Shares Bought by Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD

Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 57.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 63,211 shares of the real estate investment trust’s stock after purchasing an additional 23,056 shares during the quarter. Prologis accounts for 1.6% of Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD’s investment portfolio, making the stock its 24th largest position. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD’s holdings in Prologis were worth $6,714,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. State Street Corp lifted its stake in Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after acquiring an additional 767,609 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after purchasing an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Prologis by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock valued at $1,099,569,000 after purchasing an additional 173,531 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after acquiring an additional 8,545,336 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Prologis by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock valued at $631,266,000 after buying an additional 32,644 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Stock Performance

NYSE PLD opened at $117.39 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.27. The stock has a market cap of $108.81 billion, a PE ratio of 29.35, a PEG ratio of 2.70 and a beta of 1.09. The firm’s fifty day moving average price is $116.45 and its two-hundred day moving average price is $117.79.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.44%. Prologis’s payout ratio is presently 101.00%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Mizuho dropped their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada lifted their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Robert W. Baird lifted their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Wolfe Research reduced their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Truist Financial boosted their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Company 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.