Crowley Wealth Management Inc. Makes New Investment in Prologis, Inc. (NYSE:PLD)

Crowley Wealth Management Inc. bought a new position in Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 260 shares of the real estate investment trust’s stock, valued at approximately $27,000.

Other hedge funds have also bought and sold shares of the company. Centricity Wealth Management LLC purchased a new stake in shares of Prologis during the 4th quarter valued at about $30,000. Dunhill Financial LLC increased its position in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Prologis during the 4th quarter valued at about $34,000. Promus Capital LLC purchased a new stake in shares of Prologis during the 4th quarter valued at about $34,000. Finally, Asset Planning Inc purchased a new stake in shares of Prologis during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 3.4 %

NYSE PLD opened at $108.27 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a market capitalization of $100.35 billion, a P/E ratio of 27.07, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The stock has a 50 day moving average price of $117.54 and a 200-day moving average price of $116.92.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given 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 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio is currently 101.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Scotiabank reduced their price target 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 target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Wolfe Research reduced their price target 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. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% 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.