Prologis, Inc. (NYSE:PLD) Shares Purchased by Choate Investment Advisors

Choate Investment Advisors increased its stake in Prologis, Inc. (NYSE:PLD) by 10.4% in the fourth quarter, Holdings Channel reports. The firm owned 7,668 shares of the real estate investment trust’s stock after purchasing an additional 725 shares during the period. Choate Investment Advisors’ holdings in Prologis were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PLD. Empirical Asset Management LLC lifted its stake in shares of 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 worth $7,249,000 after buying an additional 52,963 shares during the period. Cardano Risk Management B.V. raised its stake in Prologis by 2.9% in the 4th 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Prologis by 29.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after acquiring an additional 179,880 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in Prologis during the 3rd quarter valued at about $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Prologis in the third quarter valued at about $7,371,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by insiders.

Prologis Stock Performance

PLD opened at $111.98 on Monday. The firm’s fifty day simple moving average is $116.89 and its two-hundred day simple moving average is $117.46. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57. The company has a market cap of $103.79 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 2.70 and a beta of 1.09. 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 business also recently declared 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 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 3.61%. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Truist Financial lifted their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Scotiabank dropped their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Wolfe Research cut their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.