Prologis, Inc. (NYSE:PLD) Shares Purchased by Plancorp LLC

Plancorp LLC boosted its position in Prologis, Inc. (NYSE:PLD) by 10.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,836 shares of the real estate investment trust’s stock after purchasing an additional 9,964 shares during the period. Prologis comprises approximately 0.4% of Plancorp LLC’s holdings, making the stock its 27th largest position. Plancorp LLC’s holdings in Prologis were worth $10,764,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PLD. Moors & Cabot Inc. lifted its position in Prologis by 6.0% in the third quarter. Moors & Cabot Inc. now owns 2,096 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 119 shares during the period. Cornerstone Advisors LLC increased its holdings in Prologis by 263.6% in the third quarter. Cornerstone Advisors LLC now owns 8,000 shares of the real estate investment trust’s stock valued at $1,010,000 after buying an additional 5,800 shares in the last quarter. King Luther Capital Management Corp increased its holdings in Prologis by 165.3% in the third quarter. King Luther Capital Management Corp now owns 58,895 shares of the real estate investment trust’s stock valued at $7,437,000 after buying an additional 36,693 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Prologis by 9.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 197,854 shares of the real estate investment trust’s stock valued at $24,985,000 after buying an additional 16,310 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in Prologis by 24.1% in the third quarter. LPL Financial LLC now owns 814,914 shares of the real estate investment trust’s stock valued at $102,907,000 after buying an additional 158,211 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PLD shares. Scotiabank dropped their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Royal Bank of Canada increased their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Wolfe Research dropped their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Truist Financial raised their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One 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 data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on 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 completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Prologis Stock Down 3.4 %

PLD stock opened at $108.27 on Friday. The stock has a market capitalization of $100.35 billion, a P/E ratio of 27.07, a PEG ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The company has a 50 day moving average price of $117.54 and a two-hundred day moving average price of $117.07.

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 paid a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

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.