Prologis, Inc. (NYSE:PLD) Stock Position Lifted by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 12.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 20,443 shares of the real estate investment trust’s stock after acquiring an additional 2,280 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Prologis were worth $2,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empirical Asset Management LLC grew its position in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. grew its position in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after acquiring an additional 25,266 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Prologis in the third quarter worth approximately $1,051,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Prologis in the third quarter worth approximately $7,371,000. Finally, Red Cedar Investment Management LLC bought a new stake in Prologis in the third quarter worth approximately $1,230,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of NYSE:PLD opened at $122.69 on Wednesday. The company has a market capitalization of $113.72 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 2.70 and a beta of 1.10. The firm’s 50 day simple moving average is $113.07 and its 200 day simple moving average is $117.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued 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 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is 101.00%.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent research reports. Barclays boosted their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Scotiabank decreased their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. 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 report on Monday, January 27th. Mizuho decreased their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, UBS Group upped their target price on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’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 transaction of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.56% of the company’s stock.

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.