New Age Alpha Advisors LLC increased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 853.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 192,612 shares of the real estate investment trust's stock after purchasing an additional 172,412 shares during the period. Prologis accounts for 0.8% of New Age Alpha Advisors LLC's portfolio, making the stock its 14th biggest position. New Age Alpha Advisors LLC's holdings in Prologis were worth $20,359,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis during the fourth quarter valued at approximately $26,000. Crowley Wealth Management Inc. bought a new position in shares of Prologis during the fourth quarter valued at $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis during the fourth quarter valued at $30,000. Dunhill Financial LLC raised its position in 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 during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Prologis during the 4th quarter valued at about $34,000. 93.50% of the stock is currently owned by institutional investors.
Prologis Stock Down 0.5 %
PLD stock traded down $0.57 during trading on Tuesday, hitting $111.22. 1,137,858 shares of the company's stock traded hands, compared to its average volume of 3,908,834. The business has a fifty day simple moving average of $117.78 and a two-hundred day simple moving average of $116.11. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $103.09 billion, a P/E ratio of 27.96, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57.
Prologis Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a $1.01 dividend. This is a boost from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis's dividend payout ratio (DPR) is currently 101.00%.
Insider Activity at Prologis
In other news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction 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. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Mizuho dropped their target price on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Wolfe Research decreased their price target on shares of Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Finally, Robert W. Baird boosted their price objective on Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. One 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $128.78.
Check Out Our Latest Stock Report on Prologis
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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