Prologis, Inc. (NYSE:PLD) Shares Purchased by Mendel Money Management

Mendel Money Management boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.5% in the fourth quarter, HoldingsChannel reports. The firm owned 4,644 shares of the real estate investment trust’s stock after buying an additional 114 shares during the period. Mendel Money Management’s holdings in Prologis were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Empirical Asset Management LLC lifted its holdings in shares of Prologis by 339.0% in the 4th 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 during the period. Cardano Risk Management B.V. raised its position in Prologis by 2.9% during 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 acquiring an additional 25,266 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after acquiring an additional 179,880 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in Prologis in the 3rd quarter worth approximately $1,051,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Prologis by 1.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock worth $92,048,000 after purchasing an additional 9,147 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

NYSE PLD opened at $109.32 on Wednesday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The firm has a market capitalization of $101.32 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The stock’s fifty day moving average is $117.66 and its two-hundred day moving average is $116.67. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.70%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLD. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. BTIG Research reduced their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Robert W. Baird raised their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Wolfe Research reduced their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is 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.