Swiss National Bank Has $385.09 Million Position in Prologis, Inc. (NYSE:PLD)

Swiss National Bank decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,888,908 shares of the real estate investment trust’s stock after selling 81,400 shares during the period. Swiss National Bank owned about 0.31% of Prologis worth $385,091,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PLD. Thompson Investment Management Inc. acquired a new position in Prologis during the fourth quarter worth about $28,000. FinTrust Capital Advisors LLC grew its holdings in shares of Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in Prologis during the 4th quarter worth approximately $37,000. FNY Investment Advisers LLC bought a new position in Prologis in the 4th quarter valued at approximately $39,000. Finally, Valley National Advisers Inc. boosted its position in Prologis by 178.6% in the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 250 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PLD shares. StockNews.com cut Prologis from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Barclays lowered their target price on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday. UBS Group cut their price target on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Morgan Stanley upped their price objective on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Finally, Mizuho reiterated a “neutral” rating and set a $130.00 target price on shares of Prologis in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.35.

Prologis Stock Up 1.1 %

Shares of Prologis stock traded up $1.09 during trading on Thursday, reaching $102.97. 2,013,924 shares of the company traded hands, compared to its average volume of 3,505,649. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $95.33 billion, a PE ratio of 29.78, a P/E/G ratio of 2.12 and a beta of 1.05. The company has a 50 day moving average price of $123.24 and a 200-day moving average price of $121.78. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is 112.28%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.