Asset Planning Inc Buys Shares of 500 Prologis, Inc. (NYSE:PLD)

Asset Planning Inc bought a new stake in Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 500 shares of the real estate investment trust’s stock, valued at approximately $53,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Dunhill Financial LLC raised its position in shares of Prologis by 239.5% during the third 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 period. 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. Fortitude Family Office LLC raised its position in shares of Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares during the period. Finally, Hanson & Doremus Investment Management raised its position in shares of Prologis by 42.2% during the fourth quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PLD shares. Barclays raised their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. BTIG Research decreased their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, 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 report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Performance

NYSE:PLD opened at $120.84 on Friday. The stock has a market cap of $111.92 billion, a P/E ratio of 30.21, a PEG ratio of 2.64 and a beta of 1.10. The stock has a 50 day simple moving average of $111.53 and a 200 day simple moving average of $118.17. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76.

Prologis Dividend Announcement

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

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

About Prologis

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.