Prologis, Inc. (NYSE:PLD) Shares Bought by Carmel Capital Partners LLC

Carmel Capital Partners LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,973 shares of the real estate investment trust’s stock after acquiring an additional 224 shares during the quarter. Carmel Capital Partners LLC’s holdings in Prologis were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in Prologis during the 4th quarter worth about $30,000. Dunhill Financial LLC raised its holdings in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the period. Whipplewood Advisors LLC acquired a new stake in Prologis during the 4th quarter worth about $34,000. Promus Capital LLC acquired a new stake in Prologis during the 4th quarter worth about $34,000. Finally, Hara Capital LLC acquired a new stake in Prologis during the 3rd quarter worth about $48,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PLD. BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Scotiabank dropped their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Wolfe Research dropped their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

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

Prologis Stock Up 1.9 %

PLD opened at $124.08 on Thursday. The business has a 50 day moving average of $115.40 and a 200-day moving average of $118.03. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $115.00 billion, a price-to-earnings ratio of 31.02, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is currently 101.00%.

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.