Taikang Asset Management Hong Kong Co Ltd Lowers Position in Prologis, Inc. (NYSE:PLD)

Taikang Asset Management Hong Kong Co Ltd lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 61.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,178 shares of the real estate investment trust’s stock after selling 22,356 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Prologis were worth $1,499,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of 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 buying an additional 767,609 shares during the last quarter. Geode Capital Management LLC grew its position in Prologis by 0.9% during the third 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 acquiring an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Prologis by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock worth $1,099,569,000 after acquiring an additional 173,531 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Prologis by 534.7% in 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 purchasing an additional 8,545,336 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 32,644 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 1.8 %

NYSE PLD opened at $110.35 on Tuesday. The company’s fifty day moving average price is $117.64 and its two-hundred day moving average price is $116.80. The company has a market capitalization of $102.28 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.66%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is 101.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Truist Financial raised their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BTIG Research reduced their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.