Black Swift Group LLC Invests $967,000 in Prologis, Inc. (NYSE:PLD)

Black Swift Group LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,145 shares of the real estate investment trust's stock, valued at approximately $967,000.

Several other hedge funds have also added to or reduced their stakes in PLD. Empirical Asset Management LLC grew its holdings in shares of Prologis by 339.0% during the fourth 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 last quarter. Cardano Risk Management B.V. boosted its stake in Prologis by 2.9% during the 4th 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 purchasing an additional 25,266 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Prologis in the 3rd quarter worth $1,051,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Prologis in the third quarter worth $7,371,000. Finally, Cumberland Partners Ltd purchased a new position in shares of Prologis in the third quarter worth $1,566,000. 93.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction 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 transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This 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 can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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Prologis Stock Performance

NYSE PLD traded down $1.95 on Monday, reaching $117.97. 4,237,972 shares of the stock were exchanged, compared to its average volume of 3,850,259. 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, Inc. has a one year low of $100.82 and a one year high of $135.76. The firm has a market capitalization of $109.34 billion, a PE ratio of 29.49, a PEG ratio of 2.70 and a beta of 1.09. The company's 50-day simple moving average is $115.96 and its two-hundred day simple moving average is $117.93.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.42%. Prologis's payout ratio is currently 101.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Raymond James reiterated a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Robert W. Baird raised their price target on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Royal Bank of Canada boosted their price objective 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. BMO Capital Markets cut shares of Prologis from a "market perform" rating to an "underperform" rating and dropped their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Finally, Truist Financial boosted their target price on shares of Prologis from $121.00 to $123.00 and gave the company 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 given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.78.

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.