Easterly Investment Partners LLC Buys 116,656 Shares of Prologis, Inc. (NYSE:PLD)

Easterly Investment Partners LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 632.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 135,104 shares of the real estate investment trust's stock after acquiring an additional 116,656 shares during the period. Prologis comprises 1.1% of Easterly Investment Partners LLC's investment portfolio, making the stock its 19th biggest position. Easterly Investment Partners LLC's holdings in Prologis were worth $14,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Prologis in the fourth quarter worth $26,000. Crowley Wealth Management Inc. bought a new position in Prologis in the 4th quarter worth about $27,000. Centricity Wealth Management LLC purchased a new position in Prologis during the 4th quarter valued at about $30,000. Dunhill Financial LLC increased its position 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 valued at $33,000 after buying an additional 182 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Prologis in the fourth quarter worth about $34,000. 93.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

PLD has been the subject of several analyst reports. Raymond James reissued a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Scotiabank dropped their price objective on Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Monday, January 27th. Truist Financial upped their target price on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. BTIG Research dropped their price target on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Finally, UBS Group upped their price objective 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. One 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $128.78.

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Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction dated 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 directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company's stock.

Prologis Stock Down 0.3 %

Prologis stock traded down $0.38 during trading hours on Friday, hitting $110.37. 3,660,201 shares of the stock traded hands, compared to its average volume of 3,915,027. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The firm's 50-day moving average price is $117.74 and its two-hundred day moving average price is $116.34. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market cap of $102.29 billion, a PE ratio of 27.59, a PEG ratio of 2.70 and a beta of 1.09.

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 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 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Tuesday, March 18th. Prologis's dividend payout ratio (DPR) is 101.00%.

Prologis Company 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.