Prologis, Inc. (NYSE:PLD) Shares Bought by Banco Santander S.A.

Banco Santander S.A. grew its position in Prologis, Inc. (NYSE:PLD) by 88.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,683 shares of the real estate investment trust’s stock after purchasing an additional 2,192 shares during the period. Banco Santander S.A.’s holdings in Prologis were worth $495,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PLD. Callan Family Office LLC purchased a new stake in Prologis during the 4th quarter worth $429,000. Welch & Forbes LLC lifted its stake in shares of Prologis by 7.7% during the fourth quarter. Welch & Forbes LLC now owns 4,555 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 325 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Prologis during the fourth quarter worth about $242,000. Candriam S.C.A. lifted its stake in shares of Prologis by 15.6% during the fourth quarter. Candriam S.C.A. now owns 114,596 shares of the real estate investment trust’s stock worth $12,113,000 after purchasing an additional 15,449 shares in the last quarter. Finally, Carmel Capital Partners LLC grew its stake in shares of Prologis by 6.0% in the fourth quarter. Carmel Capital Partners LLC now owns 3,973 shares of the real estate investment trust’s stock valued at $420,000 after buying an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PLD shares. BTIG Research dropped their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Truist Financial boosted their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Royal Bank of Canada boosted their price objective on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Finally, Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company 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 given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’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 transaction, the executive now owns 7,977 shares of the company’s stock, valued at $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 is available at this link. Company insiders own 0.50% of the company’s stock.

Prologis Stock Performance

PLD stock opened at $117.97 on Tuesday. The firm has a market cap of $109.34 billion, a P/E ratio of 29.49, a P/E/G ratio of 2.70 and a beta of 1.09. The stock’s 50 day simple moving average is $116.22 and its 200 day simple moving average is $117.87. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

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.