Enterprise Financial Services Corp Buys New Stake in Prologis, Inc. (NYSE:PLD)

Enterprise Financial Services Corp acquired a new stake in Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,075 shares of the real estate investment trust’s stock, valued at approximately $219,000.

Several other large investors also recently bought and sold shares of PLD. Centricity Wealth Management LLC acquired a new stake in Prologis in the fourth quarter valued at about $30,000. Dunhill Financial LLC boosted its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in Prologis during the fourth quarter worth approximately $34,000. Promus Capital LLC acquired a new position in shares of Prologis in the 4th quarter valued at $34,000. Finally, Coastline Trust Co acquired a new position in shares of Prologis in the 3rd quarter valued at $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 0.3 %

Prologis stock opened at $119.89 on Friday. The firm has a market cap of $111.12 billion, a PE ratio of 29.97, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm’s 50 day moving average price is $115.96 and its two-hundred day moving average price is $117.97. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76.

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 paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.37%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is currently 101.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLD. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Scotiabank reduced their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $120.00 to $104.00 in a report on Friday, December 6th. BTIG Research reduced their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, Wolfe Research reduced their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

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.