Mizuho Securities USA LLC Raises Stock Position in Prologis, Inc. (NYSE:PLD)

Mizuho Securities USA LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 46.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,780 shares of the real estate investment trust’s stock after purchasing an additional 27,740 shares during the period. Mizuho Securities USA LLC’s holdings in Prologis were worth $9,278,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dunhill Financial LLC grew its position in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Prologis during the fourth quarter worth about $30,000. Promus Capital LLC acquired a new position in shares of Prologis during the fourth quarter worth about $34,000. Whipplewood Advisors LLC acquired a new position in shares of Prologis during the fourth quarter worth about $34,000. Finally, Asset Planning Inc acquired a new position in shares of Prologis during the fourth quarter worth about $53,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction 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 $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PLD has been the subject of a number of research analyst reports. UBS Group upped their price target on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Scotiabank lowered their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Finally, Royal Bank of Canada increased their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Trading Down 3.4 %

NYSE:PLD opened at $108.27 on Friday. The stock has a fifty day moving average price of $117.54 and a two-hundred day moving average price of $117.07. The stock has a market capitalization of $100.35 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.73%. Prologis’s dividend payout ratio is presently 101.00%.

About Prologis

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.