GSI Capital Advisors LLC Has $13.30 Million Stock Position in Prologis, Inc. (NYSE:PLD)

GSI Capital Advisors LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 31.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 125,832 shares of the real estate investment trust's stock after acquiring an additional 29,886 shares during the period. Prologis accounts for about 7.0% of GSI Capital Advisors LLC's investment portfolio, making the stock its 2nd largest position. GSI Capital Advisors LLC's holdings in Prologis were worth $13,300,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PLD. Bridgewater Associates LP boosted its stake in Prologis by 4.0% in the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust's stock worth $338,000 after purchasing an additional 103 shares during the period. Benjamin Edwards Inc. lifted its holdings in shares of Prologis by 736.6% in the third quarter. Benjamin Edwards Inc. now owns 23,641 shares of the real estate investment trust's stock worth $2,986,000 after buying an additional 20,815 shares in the last quarter. Hilltop Holdings Inc. boosted its position in shares of Prologis by 290.7% during the third quarter. Hilltop Holdings Inc. now owns 32,009 shares of the real estate investment trust's stock worth $4,042,000 after acquiring an additional 23,816 shares during the last quarter. HighTower Advisors LLC grew its stake in Prologis by 19.7% during the third quarter. HighTower Advisors LLC now owns 169,928 shares of the real estate investment trust's stock valued at $21,500,000 after acquiring an additional 27,923 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Prologis by 145.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust's stock valued at $456,320,000 after acquiring an additional 2,138,693 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PLD shares. BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Wolfe Research cut their target price on shares of Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Finally, Mizuho decreased their price target on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. One investment 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $128.78.

Prologis Trading Down 3.4 %

Prologis stock traded down $3.49 during trading hours on Friday, hitting $98.10. The company had a trading volume of 12,661,108 shares, compared to its average volume of 3,975,386. The firm has a market cap of $90.94 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a 50-day moving average price of $116.86 and a two-hundred day moving average price of $115.64. Prologis, Inc. has a 1 year low of $95.74 and a 1 year high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 4.12%. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio is 101.00%.

Insiders Place Their Bets

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 transaction, the executive now owns 7,977 shares of the company's stock, 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 SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

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.