Impact Capital Partners LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,403 shares of the real estate investment trust's stock, valued at approximately $1,205,000.
Other large investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC lifted its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock worth $33,000 after buying an additional 182 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Prologis in the 4th quarter worth about $30,000. Promus Capital LLC purchased a new position in shares of Prologis in the 4th quarter worth about $34,000. Whipplewood Advisors LLC purchased a new position in shares of Prologis in the 4th quarter worth about $34,000. Finally, Coastline Trust Co purchased a new position in shares of Prologis in the 3rd quarter worth about $52,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Prologis
In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value 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 trade represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Truist Financial raised their price objective on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a report on Monday, January 27th. BMO Capital Markets downgraded Prologis from a "market perform" rating to an "underperform" rating and cut their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Scotiabank dropped their target price on Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Monday, January 27th. Finally, Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and an average target price of $128.78.
Get Our Latest Stock Analysis on PLD
Prologis Price Performance
Shares of PLD opened at $115.70 on Thursday. The firm has a market cap of $107.23 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 2.70 and a beta of 1.09. The stock has a 50 day moving average of $116.65 and a 200-day moving average of $117.78. 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 52 week low of $100.82 and a 52 week high of $135.27.
Prologis Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. This is a positive change 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 dividend yield of 3.49%. Prologis's dividend payout ratio (DPR) is presently 101.00%.
Prologis Profile
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Free Report)
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.
See Also
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