Prologis, Inc. (NYSE:PLD) Shares Purchased by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,984 shares of the real estate investment trust’s stock after acquiring an additional 167 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Prologis were worth $398,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Columbia Trust Co 01012016 boosted its holdings in shares of Prologis by 16.0% in the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after purchasing an additional 723 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in Prologis by 39.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after acquiring an additional 11,882 shares during the last quarter. DNB Asset Management AS grew its position in Prologis by 17.1% during the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after acquiring an additional 42,073 shares during the period. Grassi Investment Management increased its stake in Prologis by 31.8% during the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after acquiring an additional 60,900 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. increased its stake in Prologis by 255.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after acquiring an additional 11,582 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLD. BMO Capital Markets cut Prologis from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. Robert W. Baird raised their target price on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. Morgan Stanley upped their price target on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Mizuho reissued a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a research report on Tuesday, April 2nd. Finally, Argus decreased their target price on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $133.53.

Prologis Stock Performance

Shares of NYSE PLD traded down $2.96 during mid-day trading on Tuesday, hitting $102.05. The company had a trading volume of 5,583,314 shares, compared to its average volume of 3,501,471. The stock has a market cap of $94.48 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 2.17 and a beta of 1.00. The firm’s 50 day simple moving average is $123.87 and its two-hundred day simple moving average is $121.92. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.76%. Prologis’s dividend payout ratio is presently 112.28%.

Prologis Company 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.