Alley Investment Management Company LLC Boosts Stake in Prologis, Inc. (NYSE:PLD)

Alley Investment Management Company LLC boosted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,421 shares of the real estate investment trust's stock after purchasing an additional 2,664 shares during the quarter. Alley Investment Management Company LLC's holdings in Prologis were worth $5,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new stake in Prologis in the 4th quarter worth approximately $30,000. Dunhill Financial LLC lifted its stake 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 buying an additional 182 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of Prologis during the fourth quarter worth $34,000. Hara Capital LLC purchased a new stake in shares of Prologis during the third quarter valued at $48,000. Finally, Coastline Trust Co acquired a new position in shares of Prologis in the 3rd quarter valued at $52,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research reports. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. Scotiabank decreased their target price on Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a report on Monday, January 27th. Barclays increased their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. Robert W. Baird lifted their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, BMO Capital Markets lowered shares of Prologis from a "market perform" rating to an "underperform" rating and cut their price objective for the stock 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 given 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, Prologis currently has an average rating of "Moderate Buy" and an average target price of $128.78.

Prologis Price Performance

PLD traded up $2.30 during midday trading on Wednesday, hitting $124.08. 4,154,354 shares of the company traded hands, compared to its average volume of 3,796,948. The business has a 50 day simple moving average of $115.01 and a two-hundred day simple moving average of $117.99. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a market capitalization of $115.00 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 2.70 and a beta of 1.09. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The firm 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 dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is 101.00%.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction 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 transaction, the executive now owns 7,977 shares of the company's stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

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.