Nomura Asset Management Co. Ltd. Boosts Stock Position in Prologis, Inc. (NYSE:PLD)

Nomura Asset Management Co. Ltd. raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,491,714 shares of the real estate investment trust’s stock after buying an additional 58,130 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.16% of Prologis worth $157,674,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp bought a new position in Prologis in the 4th quarter worth about $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Prologis in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis during the fourth quarter valued at approximately $30,000. Dunhill Financial LLC lifted its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in Prologis during the fourth quarter valued at approximately $34,000. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

Shares of Prologis stock opened at $110.95 on Friday. The stock has a 50 day moving average price of $117.72 and a 200-day moving average price of $116.59. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The stock has a market cap of $102.84 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio is 101.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PLD. Mizuho decreased their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, BTIG Research lowered their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis 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.