Prologis, Inc. (NYSE:PLD) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 211,805 shares of the real estate investment trust’s stock after acquiring an additional 23,813 shares during the period. CIBC Asset Management Inc’s holdings in Prologis were worth $22,388,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dunhill Financial LLC grew its position in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of Prologis during the third quarter worth about $48,000. Coastline Trust Co acquired a new stake in shares of Prologis during the third quarter worth about $52,000. Asset Planning Inc purchased a new position in shares of Prologis during the fourth quarter worth about $53,000. Finally, Fortitude Family Office LLC increased its position in Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 240 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This 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 the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $120.84 on Tuesday. The stock has a fifty day moving average price of $111.71 and a 200 day moving average price of $118.03. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The stock has a market cap of $111.92 billion, a PE ratio of 30.21, a P/E/G ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Analysts Set New Price Targets

A number of research firms have weighed in on PLD. JPMorgan Chase & Co. decreased their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Mizuho dropped their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays raised their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock 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.