First Bank & Trust Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

First Bank & Trust increased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 167.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,164 shares of the real estate investment trust's stock after acquiring an additional 10,114 shares during the period. First Bank & Trust's holdings in Prologis were worth $1,709,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Dunhill Financial LLC increased its stake in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 182 shares in the last quarter. Hara Capital LLC bought a new stake in shares of Prologis during the third quarter valued at approximately $48,000. Coastline Trust Co bought a new stake in shares of Prologis during the third quarter valued at approximately $52,000. Asset Planning Inc purchased a new position in Prologis in the 4th quarter worth approximately $53,000. Finally, Fortitude Family Office LLC lifted its position in Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust's stock valued at $55,000 after acquiring an additional 240 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Raymond James restated a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. Truist Financial boosted their target price on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. BTIG Research dropped their price target 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. 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. Finally, Scotiabank dropped their target price on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $128.78.

Prologis Stock Performance

NYSE PLD traded up $0.28 on Monday, reaching $121.25. 1,207,716 shares of the stock were exchanged, compared to its average volume of 3,848,827. 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 $112.38 billion, a PE ratio of 30.31, a PEG ratio of 2.70 and a beta of 1.10. The company's 50-day simple moving average is $112.56 and its two-hundred day simple moving average is $117.99.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.33%. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis's dividend payout ratio (DPR) is presently 96.00%.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate 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.