Prologis, Inc. (NYSE:PLD) Position Raised by Spinnaker Trust

Spinnaker Trust raised its stake in Prologis, Inc. (NYSE:PLD) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,643 shares of the real estate investment trust’s stock after buying an additional 1,971 shares during the period. Spinnaker Trust’s holdings in Prologis were worth $5,247,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Empirical Asset Management LLC increased its holdings in shares of Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. increased its holdings in shares of Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after buying an additional 25,266 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Prologis by 2.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after buying an additional 29,400 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of Prologis in the third quarter valued at $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Prologis in the third quarter valued at $7,371,000. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PLD. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Barclays boosted their target price on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Prologis Trading Down 0.0 %

Shares of NYSE:PLD opened at $120.84 on Friday. The company has a market cap of $111.92 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.64 and a beta of 1.10. The stock’s 50-day moving average is $111.53 and its 200-day moving average is $118.17. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23.

Prologis Announces Dividend

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

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.