BankPlus Trust Department Takes Position in Prologis, Inc. (NYSE:PLD)

BankPlus Trust Department acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,290 shares of the real estate investment trust's stock, valued at approximately $1,088,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Impax Asset Management Group plc grew its stake in Prologis by 15.0% in the fourth quarter. Impax Asset Management Group plc now owns 322,764 shares of the real estate investment trust's stock worth $34,116,000 after purchasing an additional 42,091 shares in the last quarter. Crestwood Advisors Group LLC lifted its holdings in Prologis by 28.9% during the 4th quarter. Crestwood Advisors Group LLC now owns 2,237 shares of the real estate investment trust's stock worth $236,000 after buying an additional 502 shares during the last quarter. IFP Advisors Inc lifted its holdings in Prologis by 29.7% during the 4th quarter. IFP Advisors Inc now owns 4,624 shares of the real estate investment trust's stock worth $489,000 after buying an additional 1,058 shares during the last quarter. Waverton Investment Management Ltd grew its position in shares of Prologis by 61.7% in the 4th quarter. Waverton Investment Management Ltd now owns 510,899 shares of the real estate investment trust's stock worth $54,010,000 after acquiring an additional 194,923 shares in the last quarter. Finally, Dover Advisors LLC increased its holdings in shares of Prologis by 22.5% in the 4th quarter. Dover Advisors LLC now owns 5,336 shares of the real estate investment trust's stock valued at $564,000 after acquiring an additional 979 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the 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 completion of the sale, the executive now directly owns 7,977 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is owned by insiders.

Prologis Stock Performance

Shares of PLD traded up $0.75 during trading hours on Thursday, reaching $122.91. 2,293,294 shares of the company's stock traded hands, compared to its average volume of 3,806,582. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The business's fifty day simple moving average is $113.44 and its two-hundred day simple moving average is $118.02. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The firm has a market capitalization of $113.92 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The business 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 is a boost 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 3.29%. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PLD. Barclays raised their price objective on Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a research note on Monday, November 18th. UBS Group raised their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. BTIG Research cut their target price on shares of Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Finally, Wolfe Research decreased 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 equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Prologis has an average rating of "Moderate Buy" and a consensus price target of $128.78.

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.