BankPlus Trust Department Buys Shares of 10,290 Prologis, Inc. (NYSE:PLD)

BankPlus Trust Department purchased a new stake in Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,290 shares of the real estate investment trust’s stock, valued at approximately $1,088,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dunhill Financial LLC lifted its stake in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the fourth quarter valued at $30,000. Hara Capital LLC acquired a new stake in shares of Prologis during the third quarter valued at $48,000. Coastline Trust Co purchased a new stake in Prologis during the 3rd quarter worth about $52,000. Finally, Fortitude Family Office LLC raised its stake in Prologis by 120.6% in 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. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $121.01 on Monday. The firm has a fifty day moving average of $112.56 and a 200-day moving average of $117.99. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. 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 $112.16 billion, a P/E ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.34%. Prologis’s dividend payout ratio (DPR) is 96.00%.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred 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 transaction, the executive now directly 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 SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PLD. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. UBS Group raised their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Mizuho reduced their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays lifted their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently 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.