Lee Danner & Bass Inc. Has $402,000 Stake in Prologis, Inc. (NYSE:PLD)

Lee Danner & Bass Inc. raised its position in Prologis, Inc. (NYSE:PLD) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,801 shares of the real estate investment trust’s stock after purchasing an additional 125 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Prologis were worth $402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in shares of Prologis by 1.4% in the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after purchasing an additional 767,609 shares during the period. Geode Capital Management LLC raised its stake in shares of Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after purchasing an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Prologis by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock valued at $1,099,569,000 after purchasing an additional 173,531 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after acquiring an additional 8,545,336 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Prologis by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock valued at $631,266,000 after acquiring an additional 32,644 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Down 3.4 %

Shares of NYSE:PLD opened at $108.27 on Friday. 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 $100.35 billion, a PE ratio of 27.07, a P/E/G ratio of 2.70 and a beta of 1.09. The business has a 50 day moving average of $117.54 and a 200-day moving average of $117.07. 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 Increases Dividend

The company also recently disclosed 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 represents a $4.04 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is currently 101.00%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLD. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. BTIG Research lowered their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Robert W. Baird lifted their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Mizuho lowered their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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 that occurred on 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 in the company, valued at approximately $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 SEC, which is accessible through this link. 0.50% of the stock is currently owned by corporate insiders.

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.