IFM Investors Pty Ltd grew its position in shares of Prologis, Inc. (NYSE:PLD – Get Rating) by 20.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 114,583 shares of the real estate investment trust’s stock after acquiring an additional 19,654 shares during the quarter. IFM Investors Pty Ltd’s holdings in Prologis were worth $18,503,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Kowal Investment Group LLC bought a new stake in Prologis in the first quarter worth $256,000. Wealthcare Advisory Partners LLC increased its stake in Prologis by 10.8% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,633 shares of the real estate investment trust’s stock worth $264,000 after purchasing an additional 159 shares during the period. Ritholtz Wealth Management increased its stake in Prologis by 0.9% in the first quarter. Ritholtz Wealth Management now owns 40,208 shares of the real estate investment trust’s stock worth $6,493,000 after purchasing an additional 349 shares during the period. StrongBox Wealth LLC increased its stake in Prologis by 362.5% in the first quarter. StrongBox Wealth LLC now owns 10,393 shares of the real estate investment trust’s stock worth $1,678,000 after purchasing an additional 8,146 shares during the period. Finally, DeDora Capital Inc. purchased a new stake in Prologis in the first quarter worth $784,000. 93.53% of the stock is currently owned by institutional investors.
Prologis Price Performance
Shares of NYSE PLD opened at $132.56 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.59 and a current ratio of 0.15. The company has a market cap of $98.13 billion, a PE ratio of 26.51, a P/E/G ratio of 2.53 and a beta of 0.85. The business has a 50-day simple moving average of $121.57 and a two-hundred day simple moving average of $141.41. Prologis, Inc. has a fifty-two week low of $106.46 and a fifty-two week high of $174.54.
Prologis Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.38%. The ex-dividend date was Wednesday, June 15th. Prologis’s dividend payout ratio is presently 63.20%.
Insiders Place Their Bets
In other news, Director Avid Modjtabai bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The stock was purchased at an average price of $118.65 per share, with a total value of $1,779,750.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $1,779,750. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have weighed in on the company. Robert W. Baird increased their target price on Prologis from $152.00 to $175.00 in a research note on Wednesday, April 20th. BTIG Research increased their target price on Prologis from $161.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, April 12th. StockNews.com lowered Prologis from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Raymond James cut their price target on Prologis from $190.00 to $160.00 in a research note on Thursday, July 21st. Finally, Wells Fargo & Company cut their price target on Prologis from $184.00 to $160.00 in a research note on Monday, June 6th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $169.92.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.
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