Next Capital Management LLC purchased a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 2,422 shares of the real estate investment trust's stock, valued at approximately $256,000.
Other hedge funds have also recently made changes to their positions in the company. Claro Advisors LLC bought a new stake in shares of Prologis during the 3rd quarter worth $296,000. TrinityPoint Wealth LLC lifted its holdings in shares of Prologis by 10.4% during the 3rd quarter. TrinityPoint Wealth LLC now owns 3,602 shares of the real estate investment trust's stock worth $455,000 after acquiring an additional 339 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Prologis by 0.6% during the 3rd quarter. Pathstone Holdings LLC now owns 99,551 shares of the real estate investment trust's stock worth $12,571,000 after acquiring an additional 557 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of Prologis by 1.7% during the 3rd quarter. Caprock Group LLC now owns 14,226 shares of the real estate investment trust's stock worth $1,797,000 after acquiring an additional 236 shares during the last quarter. Finally, Verity & Verity LLC lifted its holdings in shares of Prologis by 1.2% during the 3rd quarter. Verity & Verity LLC now owns 103,569 shares of the real estate investment trust's stock worth $13,079,000 after acquiring an additional 1,190 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have weighed in on PLD. UBS Group boosted their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Royal Bank of Canada boosted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Monday, January 27th. Scotiabank lowered their price target on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Monday, January 27th. Finally, Raymond James reissued a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $128.78.
Get Our Latest Stock Report on Prologis
Prologis Trading Down 3.4 %
NYSE PLD traded down $3.80 during trading on Friday, hitting $108.27. The company had a trading volume of 7,526,598 shares, compared to its average volume of 3,690,567. 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 $132.57. The company has a market cap of $100.35 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company's fifty day moving average is $117.54 and its 200-day moving average is $116.92.
Prologis Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.73%. Prologis's dividend payout ratio is 101.00%.
Insiders Place Their Bets
In other news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction dated 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 sale, the executive now directly owns 7,977 shares of the company's stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company's stock.
About Prologis
(
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.
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