Prologis, Inc. (NYSE:PLD) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in Prologis, Inc. (NYSE:PLD) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,873,369 shares of the real estate investment trust’s stock after buying an additional 141,005 shares during the quarter. Hsbc Holdings PLC owned about 0.31% of Prologis worth $383,501,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Thompson Investment Management Inc. purchased a new position in shares of Prologis during the fourth quarter worth $28,000. JFS Wealth Advisors LLC boosted its holdings in Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 168 shares during the period. Salem Investment Counselors Inc. acquired a new position in Prologis in the 4th quarter valued at about $37,000. Private Wealth Management Group LLC purchased a new stake in Prologis during the fourth quarter worth about $38,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Prologis during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE PLD traded down $0.89 during trading hours on Friday, reaching $104.75. The stock had a trading volume of 3,107,976 shares, compared to its average volume of 3,918,833. The firm has a 50-day moving average of $114.69 and a 200-day moving average of $122.39. The firm has a market cap of $96.98 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 2.33 and a beta of 1.05. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.67%. Prologis’s payout ratio is 112.28%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PLD. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Wednesday. Barclays cut their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. The Goldman Sachs Group decreased their target price on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Evercore ISI lowered their target price on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $130.00 price target on shares of Prologis in a research report on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.35.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.