Yoffe Investment Management LLC Invests $295,000 in Prologis, Inc. (NYSE:PLD)

Yoffe Investment Management LLC bought a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,795 shares of the real estate investment trust's stock, valued at approximately $295,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Prologis in the fourth quarter worth about $951,263,000. Raymond James Financial Inc. acquired a new stake in Prologis in the 4th quarter valued at approximately $254,876,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in Prologis by 83.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock worth $399,528,000 after buying an additional 1,723,129 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Prologis by 59.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,584,288 shares of the real estate investment trust's stock worth $272,642,000 after buying an additional 964,454 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Prologis by 395.3% in the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust's stock worth $109,858,000 after acquiring an additional 829,504 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

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Prologis Trading Down 3.9 %

Prologis stock traded down $3.81 during mid-day trading on Monday, hitting $94.42. The stock had a trading volume of 12,716,322 shares, compared to its average volume of 4,005,727. The stock has a market capitalization of $87.52 billion, a PE ratio of 23.60, a P/E/G ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 12 month low of $91.77 and a 12 month high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a 50-day simple moving average of $116.86 and a two-hundred day simple moving average of $115.46.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. This is a boost from Prologis's previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 4.28%. Prologis's payout ratio is currently 101.00%.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research reports. Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Scotiabank restated a "sector underperform" rating and set a $97.00 price target (down from $133.00) on shares of Prologis in a research note on Monday. Robert W. Baird raised their price objective on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Raymond James restated a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $126.78.

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.