Sumitomo Mitsui DS Asset Management Company Ltd Has $30.77 Million Holdings in Prologis, Inc. (NYSE:PLD)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 291,076 shares of the real estate investment trust’s stock after acquiring an additional 20,926 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Prologis were worth $30,767,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLD. Dunhill Financial LLC raised its stake in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the period. Hara Capital LLC acquired a new stake in shares of Prologis in the 3rd quarter valued at about $48,000. Coastline Trust Co acquired a new stake in shares of Prologis in the 3rd quarter valued at about $52,000. Fortitude Family Office LLC raised its stake in shares of Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares during the period. Finally, Hanson & Doremus Investment Management raised its stake in shares of Prologis by 42.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 185 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 business’s 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 completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PLD. BTIG Research lowered their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Mizuho lowered their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Truist Financial lifted their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Down 0.3 %

NYSE PLD 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. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a 50 day moving average of $111.09 and a 200-day moving average of $118.30. The company has a market cap of $109.73 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 2.66 and a beta of 1.10.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.24%. Prologis’s payout ratio is 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.