Daiwa Securities Group Inc. Raises Position in Prologis, Inc. (NYSE:PLD)

Daiwa Securities Group Inc. grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.5% during the 4th quarter, HoldingsChannel reports. The fund owned 5,860,935 shares of the real estate investment trust’s stock after buying an additional 85,575 shares during the period. Prologis comprises 2.8% of Daiwa Securities Group Inc.’s portfolio, making the stock its 7th biggest holding. Daiwa Securities Group Inc.’s holdings in Prologis were worth $619,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Principle Wealth Partners LLC raised its holdings in Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after purchasing an additional 92 shares in the last quarter. Black Diamond Financial LLC increased its position in shares of Prologis by 2.2% during the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after buying an additional 93 shares during the period. Berkshire Bank raised its stake in Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after buying an additional 95 shares in the last quarter. J.Safra Asset Management Corp lifted its holdings in Prologis by 22.3% in the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 102 shares during the period. Finally, Bridgewater Associates LP lifted its holdings in Prologis by 4.0% in the third quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock worth $338,000 after buying an additional 103 shares during the period. 93.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by company insiders.

Prologis Stock Performance

NYSE:PLD opened at $119.89 on Monday. The stock has a 50-day simple moving average of $115.96 and a two-hundred day simple 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. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The firm has a market capitalization of $111.12 billion, a PE ratio of 29.97, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.37%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is currently 101.00%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Mizuho decreased their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Wolfe Research dropped their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, BTIG Research dropped their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

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.