Stelac Advisory Services LLC Has $17.75 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Stelac Advisory Services LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 21.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,957 shares of the real estate investment trust’s stock after purchasing an additional 29,562 shares during the period. Prologis accounts for 6.9% of Stelac Advisory Services LLC’s portfolio, making the stock its largest holding. Stelac Advisory Services LLC’s holdings in Prologis were worth $17,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Empirical Asset Management LLC raised its position in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. raised its position in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after acquiring an additional 25,266 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Prologis during the 3rd quarter valued at $1,051,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Prologis during the 3rd quarter valued at $7,371,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Prologis by 1.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock valued at $92,048,000 after acquiring an additional 9,147 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $115.70 on Thursday. The firm has a market cap of $107.23 billion, a PE ratio of 28.92, a PEG ratio of 2.70 and a beta of 1.09. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.27. The company has a fifty day moving average price of $116.65 and a 200 day moving average price of $117.78.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.49%. Prologis’s dividend payout ratio is presently 101.00%.

Analyst Ratings Changes

Several brokerages have commented on PLD. Mizuho dropped their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BTIG Research dropped their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Robert W. Baird upped their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Wolfe Research dropped their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.