Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD Buys 66,944 Shares of Prologis, Inc. (NYSE:PLD)

Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD grew its stake in Prologis, Inc. (NYSE:PLD) by 59.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 179,911 shares of the real estate investment trust’s stock after purchasing an additional 66,944 shares during the quarter. Prologis makes up 1.5% of Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD’s investment portfolio, making the stock its 25th biggest position. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD’s holdings in Prologis were worth $19,109,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dunhill Financial LLC lifted 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 valued at $33,000 after acquiring an additional 182 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Prologis in the fourth quarter worth $30,000. Promus Capital LLC acquired a new stake in Prologis during the fourth quarter valued at $34,000. Whipplewood Advisors LLC acquired a new stake in Prologis during the fourth quarter valued at $34,000. Finally, Coastline Trust Co purchased a new position in Prologis during the third quarter valued at $52,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of analyst reports. 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 research note on Friday, January 17th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Barclays upped their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Truist Financial upped their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada increased their price target on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated 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 owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Prologis stock opened at $117.39 on Wednesday. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.27. The firm has a market capitalization of $108.81 billion, a P/E ratio of 29.35, 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 current ratio of 0.75 and a quick ratio of 0.43. The stock has a fifty day moving average price of $116.45 and a two-hundred day moving average price of $117.79.

Prologis Increases Dividend

The company also recently declared 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 boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.44%. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

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.