Metis Global Partners LLC Grows Position in Prologis, Inc. (NYSE:PLD)

Metis Global Partners LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 167,848 shares of the real estate investment trust’s stock after buying an additional 12,631 shares during the period. Prologis accounts for 0.5% of Metis Global Partners LLC’s investment portfolio, making the stock its 27th biggest position. Metis Global Partners LLC’s holdings in Prologis were worth $17,742,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dunhill Financial LLC grew its position in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the fourth quarter valued at $30,000. Whipplewood Advisors LLC purchased a new stake in shares of Prologis in the fourth quarter valued at $34,000. Hara Capital LLC purchased a new stake in shares of Prologis in the third quarter valued at $48,000. Finally, Coastline Trust Co purchased a new stake in shares of Prologis in the third quarter valued at $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.9 %

NYSE:PLD opened at $123.88 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The business’s 50-day simple moving average is $114.28 and its 200 day simple moving average is $118.08. The stock has a market cap of $114.82 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The company 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 is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is currently 101.00%.

Wall Street Analyst Weigh In

PLD has been the topic of a number of research analyst reports. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Royal Bank of Canada lifted their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’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 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 link. 0.50% of the stock is owned by corporate insiders.

About Prologis

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.