Vinva Investment Management Ltd Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

Vinva Investment Management Ltd increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 8.8% in the fourth quarter, HoldingsChannel reports. The firm owned 51,320 shares of the real estate investment trust’s stock after buying an additional 4,157 shares during the period. Vinva Investment Management Ltd’s holdings in Prologis were worth $5,394,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PLD. Centricity Wealth Management LLC purchased a new stake in Prologis in the fourth quarter valued at about $30,000. Dunhill Financial LLC raised its stake in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in Prologis in the fourth quarter valued at about $34,000. Promus Capital LLC purchased a new stake in Prologis in the fourth quarter valued at about $34,000. Finally, Asset Planning Inc purchased a new stake in Prologis in the fourth quarter valued at about $53,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Up 0.6 %

Shares of PLD opened at $113.03 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57. The stock’s 50 day moving average is $117.31 and its two-hundred day moving average is $117.25. The firm has a market cap of $104.77 billion, a P/E ratio of 28.26, a PEG ratio of 2.70 and a beta of 1.09.

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 issued a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred 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 sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents 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 accessible through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on PLD shares. Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Scotiabank reduced their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. Truist Financial raised their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Robert W. Baird raised their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Wolfe Research reduced their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.78.

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.