Bank of Jackson Hole Trust Purchases Shares of 2,163 Prologis, Inc. (NYSE:PLD)

Bank of Jackson Hole Trust acquired a new stake in Prologis, Inc. (NYSE:PLD) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,163 shares of the real estate investment trust’s stock, valued at approximately $229,000.

Other hedge funds also recently made changes to their positions in the company. Dunhill Financial LLC lifted its position in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the last quarter. Hara Capital LLC acquired a new stake in Prologis during the 3rd quarter worth approximately $48,000. Coastline Trust Co acquired a new stake in Prologis during the 3rd quarter worth approximately $52,000. Asset Planning Inc acquired a new stake in Prologis during the 4th quarter worth approximately $53,000. Finally, Fortitude Family Office LLC lifted its holdings in Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PLD shares. Barclays lifted their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Robert W. Baird lifted their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Royal Bank of Canada lifted their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. BTIG Research dropped their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Trading Up 0.3 %

Shares of PLD stock opened at $121.21 on Wednesday. The firm has a market capitalization of $112.26 billion, a P/E ratio of 30.30, a P/E/G ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The stock’s fifty day simple moving average is $111.98 and its 200 day simple moving average is $117.97.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.17%. Prologis’s dividend payout ratio is currently 96.00%.

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.