Plancorp LLC Buys 9,964 Shares of Prologis, Inc. (NYSE:PLD)

Plancorp LLC increased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 10.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,836 shares of the real estate investment trust's stock after purchasing an additional 9,964 shares during the quarter. Prologis makes up about 0.4% of Plancorp LLC's investment portfolio, making the stock its 27th biggest holding. Plancorp LLC's holdings in Prologis were worth $10,764,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Principle Wealth Partners LLC increased its position in shares of Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock worth $349,000 after purchasing an additional 92 shares during the last quarter. Black Diamond Financial LLC raised its position 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 acquiring an additional 93 shares in the last quarter. Berkshire Bank lifted its stake in Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock valued at $443,000 after acquiring an additional 95 shares during the last quarter. J.Safra Asset Management Corp grew its position in shares of Prologis by 22.3% in the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust's stock valued at $59,000 after acquiring an additional 102 shares during the period. Finally, Bridgewater Associates LP increased its stake in shares of Prologis by 4.0% during the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust's stock worth $338,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

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Prologis Price Performance

PLD stock traded up $1.84 during midday trading on Wednesday, reaching $111.07. The company had a trading volume of 3,246,019 shares, compared to its average volume of 3,693,113. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $132.57. The stock has a 50 day moving average price of $117.66 and a 200-day moving average price of $116.67. 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 $102.94 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.64%. 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 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company's stock in a transaction on 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 directly owns 7,977 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on PLD. Raymond James reiterated a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. BNP Paribas raised Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a report 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 report on Wednesday, January 8th. Finally, BMO Capital Markets lowered shares of Prologis from a "market perform" rating to an "underperform" rating and dropped their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average 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.