Prologis, Inc. (NYSE:PLD) Shares Bought by Greystone Financial Group LLC

Greystone Financial Group LLC raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 31.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,839 shares of the real estate investment trust's stock after acquiring an additional 18,106 shares during the period. Prologis makes up 1.4% of Greystone Financial Group LLC's portfolio, making the stock its 29th largest holding. Greystone Financial Group LLC's holdings in Prologis were worth $8,016,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in PLD. Dunhill Financial LLC grew its stake in shares of Prologis by 239.5% in the 3rd 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 in the last quarter. Centricity Wealth Management LLC purchased a new stake in Prologis during the 4th quarter valued at $30,000. Hara Capital LLC bought a new stake in Prologis in the third quarter worth $48,000. Coastline Trust Co purchased a new position in Prologis during the third quarter worth $52,000. Finally, Fortitude Family Office LLC grew its holdings in Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 240 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Down 0.4 %

PLD stock traded down $0.50 on Wednesday, hitting $122.11. 2,324,897 shares of the company's stock were exchanged, compared to its average volume of 3,847,448. The firm has a 50 day moving average price of $113.07 and a two-hundred day moving average price of $117.99. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The stock has a market cap of $113.18 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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. This represents a $4.04 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PLD shares. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Wolfe Research lowered their price objective on shares of Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. BMO Capital Markets lowered Prologis from a "market perform" rating to an "underperform" rating and decreased their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, Royal Bank of Canada increased their price target on Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Monday, January 27th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $128.78.

Prologis 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.