Meitav Investment House Ltd. Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Meitav Investment House Ltd. raised its position in Prologis, Inc. (NYSE:PLD - Free Report) by 10.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 657,531 shares of the real estate investment trust's stock after purchasing an additional 60,872 shares during the period. Prologis accounts for approximately 1.2% of Meitav Investment House Ltd.'s portfolio, making the stock its 25th largest position. Meitav Investment House Ltd. owned 0.07% of Prologis worth $69,466,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dunhill Financial LLC boosted its position in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 182 shares in the last quarter. Hara Capital LLC acquired a new stake in Prologis in the third quarter valued at approximately $48,000. Coastline Trust Co acquired a new position in shares of Prologis during the third quarter worth approximately $52,000. Asset Planning Inc purchased a new position in shares of Prologis in the 4th quarter worth approximately $53,000. Finally, Fortitude Family Office LLC increased its position in shares of Prologis by 120.6% during the third 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 during the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

Shares of NYSE:PLD traded up $0.20 on Monday, hitting $121.17. The company's stock had a trading volume of 1,163,747 shares, compared to its average volume of 3,847,688. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company has a market capitalization of $112.31 billion, a PE ratio of 30.34, a PEG ratio of 2.70 and a beta of 1.10. The company has a 50-day simple moving average of $112.56 and a 200 day simple moving average of $117.99.

Prologis Increases Dividend

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

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on PLD. Raymond James reissued a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. UBS Group increased their price target on shares of Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Wolfe Research decreased their price objective 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. BTIG Research dropped their target price on shares of Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Finally, Royal Bank of Canada increased their target price on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have issued 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 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.