Prologis, Inc. $PLD Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Prologis, Inc. (NYSE:PLD) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 300,623 shares of the real estate investment trust’s stock, valued at approximately $39,033,000.

Several other institutional investors have also recently bought and sold shares of PLD. Profund Advisors LLC lifted its position in shares of Prologis by 29.4% in the third quarter. Profund Advisors LLC now owns 12,175 shares of the real estate investment trust’s stock worth $1,581,000 after purchasing an additional 2,764 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Prologis by 1.7% during the third quarter. ProShare Advisors LLC now owns 174,334 shares of the real estate investment trust’s stock worth $22,636,000 after purchasing an additional 2,832 shares during the last quarter. MGO One Seven LLC boosted its holdings in Prologis by 12.3% during the third quarter. MGO One Seven LLC now owns 24,222 shares of the real estate investment trust’s stock worth $3,145,000 after purchasing an additional 2,652 shares during the last quarter. International Assets Investment Management LLC grew its position in Prologis by 2,862.3% in the third quarter. International Assets Investment Management LLC now owns 67,452 shares of the real estate investment trust’s stock valued at $8,758,000 after purchasing an additional 65,175 shares in the last quarter. Finally, Brian Low Financial Group LLC grew its position in Prologis by 4.4% in the third quarter. Brian Low Financial Group LLC now owns 19,165 shares of the real estate investment trust’s stock valued at $2,488,000 after purchasing an additional 804 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PLD. Wells Fargo & Company lowered their price target on shares of Prologis from $167.00 to $166.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 1st. Robert W. Baird reduced their price objective on shares of Prologis from $140.00 to $136.00 and set a “neutral” rating for the company in a research note on Tuesday, October 20th. UBS Group set a $150.00 price objective on Prologis in a report on Friday, October 16th. Wall Street Zen upgraded Prologis from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings downgraded Prologis from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.68.

Prologis Price Performance

NYSE:PLD opened at $128.09 on Monday. Prologis, Inc. has a one year low of $121.40 and a one year high of $153.35. The company has a market cap of $121.75 billion, a P/E ratio of 28.28, a P/E/G ratio of 1.46 and a beta of 1.27. The firm’s fifty day moving average price is $132.95 and its two-hundred day moving average price is $137.78. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.81 and a quick ratio of 0.81.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. Prologis’s payout ratio is presently 94.48%.

Prologis Profile

Prologis, Inc is a global real estate investment trust that owns, develops, acquires and manages logistics properties. Its portfolio primarily includes warehouses, distribution centers and fulfillment facilities used by retailers, manufacturers, transportation companies and other businesses to support supply-chain operations and e-commerce.

The company also provides property management, development and leasing services, along with related supply-chain and customer solutions. Through its Prologis Essentials platform, it offers services and technologies designed to help customers improve warehouse operations, including energy, mobility and operational solutions.

Prologis serves major population centers and trade corridors across North America, Europe, Asia and Latin America.