Nissay Asset Management Corp Japan ADV Purchases 4,254 Shares of Prologis, Inc. (NYSE:PLD)

Nissay Asset Management Corp Japan ADV increased its position in Prologis, Inc. (NYSE:PLD) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,091 shares of the real estate investment trust’s stock after purchasing an additional 4,254 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Prologis were worth $25,478,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PLD. Norges Bank bought a new position in Prologis in the fourth quarter worth approximately $951,263,000. Northern Trust Corp lifted its holdings in Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock worth $1,464,509,000 after buying an additional 4,893,284 shares during the period. Capital Research Global Investors lifted its holdings in Prologis by 25.4% during the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock worth $1,304,922,000 after buying an additional 2,500,761 shares during the period. Raymond James Financial Inc. purchased a new stake in Prologis during the fourth quarter worth $254,876,000. Finally, FMR LLC lifted its holdings in Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after buying an additional 1,875,978 shares during the period. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of analyst reports. BTIG Research lowered their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Mizuho lowered their target price on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Royal Bank of Canada lowered their price objective on Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Morgan Stanley reduced their target price on Prologis to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Finally, Barclays reduced their target price on Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.84.

Prologis Trading Down 0.5%

PLD stock opened at $109.74 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57. The stock has a market cap of $101.83 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 2.70 and a beta of 1.25. The business’s 50-day moving average is $105.46 and its 200 day moving average is $111.24.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.44% and a net margin of 45.50%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Tuesday, June 17th. Prologis’s dividend payout ratio is currently 101.00%.

Prologis 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.