Prologis, Inc. (NYSE:PLD) Shares Acquired by Xponance Inc.

Xponance Inc. lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,406 shares of the real estate investment trust’s stock after buying an additional 3,718 shares during the period. Xponance Inc.’s holdings in Prologis were worth $14,418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Claro Advisors LLC acquired a new stake in Prologis in the third quarter worth approximately $296,000. TrinityPoint Wealth LLC lifted its position in Prologis by 10.4% in the third quarter. TrinityPoint Wealth LLC now owns 3,602 shares of the real estate investment trust’s stock worth $455,000 after purchasing an additional 339 shares during the period. Pathstone Holdings LLC lifted its position in Prologis by 0.6% in the third quarter. Pathstone Holdings LLC now owns 99,551 shares of the real estate investment trust’s stock worth $12,571,000 after purchasing an additional 557 shares during the period. Caprock Group LLC lifted its position in Prologis by 1.7% in the third quarter. Caprock Group LLC now owns 14,226 shares of the real estate investment trust’s stock worth $1,797,000 after purchasing an additional 236 shares during the period. Finally, Verity & Verity LLC lifted its position in Prologis by 1.2% in the third quarter. Verity & Verity LLC now owns 103,569 shares of the real estate investment trust’s stock worth $13,079,000 after purchasing an additional 1,190 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wolfe Research cut their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada upped their target price on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. BTIG Research dropped their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Robert W. Baird upped their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on 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 directly 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 legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Prologis Trading Down 1.9 %

Prologis stock opened at $112.27 on Wednesday. The company’s fifty day simple moving average is $117.16 and its 200-day simple moving average is $117.28. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57. The stock has a market cap of $104.06 billion, a P/E ratio of 28.07, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is currently 101.00%.

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.