Pine Valley Investments Ltd Liability Co Acquires 2,280 Shares of Prologis, Inc. (NYSE:PLD)

Pine Valley Investments Ltd Liability Co boosted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,443 shares of the real estate investment trust's stock after acquiring an additional 2,280 shares during the quarter. Pine Valley Investments Ltd Liability Co's holdings in Prologis were worth $2,161,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. ASB Consultores LLC grew its stake in Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust's stock worth $306,000 after buying an additional 86 shares during the last quarter. Principle Wealth Partners LLC grew its stake in Prologis by 2.9% during the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock worth $349,000 after buying an additional 92 shares during the last quarter. Black Diamond Financial LLC grew its stake in Prologis by 2.2% during the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock worth $449,000 after buying an additional 93 shares during the last quarter. Carmel Capital Partners LLC grew its stake in Prologis by 2.6% during the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust's stock worth $473,000 after buying an additional 94 shares during the last quarter. Finally, Berkshire Bank grew its stake in Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock worth $443,000 after buying an additional 95 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company'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 in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on PLD shares. BNP Paribas raised shares of Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Wolfe Research decreased their price objective on shares of Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Mizuho decreased their price objective 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. 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 note on Tuesday, January 28th. Finally, Raymond James restated a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $128.78.

Prologis Trading Up 0.9 %

NYSE PLD traded up $1.11 on Friday, reaching $123.88. The company had a trading volume of 5,562,229 shares, compared to its average volume of 3,851,597. The stock's 50 day moving average is $114.28 and its 200-day moving average is $118.08. The stock has a market cap of $114.82 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. The company has a quick ratio of 0.43, a current ratio of 0.75 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 $135.76.

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 issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio is currently 101.00%.

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.