Mirae Asset Global Investments Co. Ltd. Increases Position in Prologis, Inc. (NYSE:PLD)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 124,046 shares of the real estate investment trust’s stock after buying an additional 7,061 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Prologis were worth $12,628,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. ASB Consultores LLC raised its stake in shares of Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 86 shares during the last quarter. CX Institutional raised its position in Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after acquiring an additional 88 shares during the last quarter. DT Investment Partners LLC lifted its holdings in shares of Prologis by 9.8% in the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 93 shares in the last quarter. Carmel Capital Partners LLC grew its position in shares of Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 94 shares during the last quarter. Finally, Berkshire Bank increased its stake in shares of Prologis by 2.3% during the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PLD shares. Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Royal Bank of Canada upped 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. Scotiabank dropped their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. Robert W. Baird upped their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, UBS Group raised their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

Shares of PLD stock opened at $118.48 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market cap of $109.73 billion, a PE ratio of 29.62, a P/E/G ratio of 2.66 and a beta of 1.10. The company’s fifty day simple moving average is $111.09 and its 200-day simple moving average is $118.30. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

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.