Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Prologis, Inc. (NYSE:PLD)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,090,875 shares of the real estate investment trust’s stock after acquiring an additional 155,768 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.23% of Prologis worth $220,859,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Prologis during the fourth quarter worth about $254,876,000. Janus Henderson Group PLC grew its stake in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after buying an additional 2,138,693 shares during the last quarter. Jennison Associates LLC increased its position in Prologis by 395.3% during the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after buying an additional 829,504 shares during the period. Finally, State Street Corp increased its holdings in shares of Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after acquiring an additional 767,609 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Prologis stock opened at $111.07 on Thursday. The firm has a market capitalization of $102.94 billion, a P/E ratio of 27.77, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The stock has a fifty day moving average price of $117.72 and a two-hundred day moving average price of $116.63. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57.

Prologis Increases Dividend

The company 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 dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.64%. Prologis’s dividend payout ratio is currently 101.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PLD shares. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Robert W. Baird boosted their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Wolfe Research dropped their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Mizuho decreased their price target 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, Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

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.