Dover Advisors LLC Acquires 979 Shares of Prologis, Inc. (NYSE:PLD)

Dover Advisors LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 22.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,336 shares of the real estate investment trust’s stock after purchasing an additional 979 shares during the period. Dover Advisors LLC’s holdings in Prologis were worth $564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Centricity Wealth Management LLC purchased a new position in Prologis in the 4th quarter worth approximately $30,000. Dunhill Financial LLC lifted its holdings in shares of Prologis by 239.5% during the 3rd 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. Hara Capital LLC purchased a new position in Prologis in the third quarter worth $48,000. Coastline Trust Co purchased a new position in Prologis in the third quarter worth $52,000. Finally, Asset Planning Inc bought a new position in Prologis in the fourth quarter valued at $53,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

PLD opened at $121.01 on Monday. 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 stock has a market capitalization of $112.16 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The stock’s 50 day moving average price is $112.56 and its 200-day moving average price is $117.99. Prologis, Inc. has a 52-week low of $100.82 and a 52-week 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 given a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is presently 96.00%.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated 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 transaction, the executive now owns 7,977 shares in the company, 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 hyperlink. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of research reports. Wolfe Research cut their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. UBS Group upped their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Scotiabank lowered their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Finally, Robert W. Baird increased their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Company 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.