E Fund Management Co. Ltd. Purchases Shares of 2,293 Prologis, Inc. (NYSE:PLD)

E Fund Management Co. Ltd. acquired a new position in Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,293 shares of the real estate investment trust’s stock, valued at approximately $242,000.

A number of other hedge funds have also recently added to or reduced their stakes in PLD. Empirical Asset Management LLC grew its position in shares of Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 52,963 shares during the period. Cardano Risk Management B.V. grew its holdings in shares of Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after purchasing an additional 25,266 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in shares of Prologis in the 3rd quarter valued at approximately $1,051,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Prologis in the third quarter worth approximately $7,371,000. Finally, Cumberland Partners Ltd acquired a new stake in shares of Prologis during the 3rd quarter worth about $1,566,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Prologis stock opened at $119.89 on Monday. The business has a fifty day moving average of $115.96 and a two-hundred day moving average of $117.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a market cap of $111.12 billion, a P/E ratio of 29.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.37%. Prologis’s dividend payout ratio (DPR) is 101.00%.

Analyst Ratings Changes

PLD has been the subject of several research reports. Wolfe Research dropped their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Royal Bank of Canada upped their price objective on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Scotiabank dropped their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s 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 directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

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.