Cookson Peirce & Co. Inc. Increases Stake in Prologis, Inc. (NYSE:PLD)

Cookson Peirce & Co. Inc. grew its stake in Prologis, Inc. (NYSE:PLD) by 13.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,485 shares of the real estate investment trust’s stock after buying an additional 526 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Prologis were worth $474,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dunhill Financial LLC lifted its stake in 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 last quarter. Centricity Wealth Management LLC purchased a new stake in Prologis during the fourth quarter worth approximately $30,000. Whipplewood Advisors LLC purchased a new stake in Prologis during the fourth quarter worth approximately $34,000. Hara Capital LLC purchased a new stake in Prologis during the third quarter worth approximately $48,000. Finally, Coastline Trust Co purchased a new stake in Prologis during the third quarter worth approximately $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 1.9 %

Shares of PLD stock opened at $124.08 on Thursday. The business’s fifty day moving average price is $115.40 and its 200 day moving average price is $118.03. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The firm has a market capitalization of $115.00 billion, a PE ratio of 31.02, 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.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This is a positive change 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 3.26%. Prologis’s dividend payout ratio is 101.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Truist Financial boosted their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Scotiabank decreased their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. BTIG Research reduced their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Royal Bank of Canada boosted their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on 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 owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.

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.