Alliancebernstein L.P. Acquires 30,985 Shares of Prologis, Inc. (NYSE:PLD)

Alliancebernstein L.P. boosted its holdings in Prologis, Inc. (NYSE:PLD) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,496,280 shares of the real estate investment trust’s stock after purchasing an additional 30,985 shares during the period. Alliancebernstein L.P.’s holdings in Prologis were worth $369,557,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PLD. Principle Wealth Partners LLC grew its stake in shares of Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after purchasing an additional 92 shares during the period. Black Diamond Financial LLC grew its position in Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after acquiring an additional 93 shares during the period. Berkshire Bank raised its stake in Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after acquiring an additional 95 shares in the last quarter. J.Safra Asset Management Corp lifted its holdings in shares of Prologis by 22.3% during the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 102 shares during the period. Finally, Bridgewater Associates LP boosted its stake in shares of Prologis by 4.0% in the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock valued at $338,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 1.2 %

Shares of NYSE PLD opened at $111.79 on Tuesday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The firm has a market capitalization of $103.61 billion, a P/E ratio of 27.95, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company’s 50 day simple moving average is $117.78 and its 200 day simple moving average is $116.11.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a $1.01 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.61%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is 101.00%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. UBS Group boosted their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Robert W. Baird raised their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. BTIG Research reduced their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, Mizuho lowered their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated 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 transaction, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is 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.