Argentarii LLC Takes $670,000 Position in Prologis, Inc. (NYSE:PLD)

Argentarii LLC bought a new stake in Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,335 shares of the real estate investment trust’s stock, valued at approximately $670,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PLD. Graypoint LLC raised its stake in shares of Prologis by 31.9% in the third quarter. Graypoint LLC now owns 4,714 shares of the real estate investment trust’s stock valued at $595,000 after acquiring an additional 1,141 shares during the period. CWA Asset Management Group LLC bought a new position in shares of Prologis in the third quarter worth about $11,383,000. Verdence Capital Advisors LLC grew its holdings in shares of Prologis by 131.1% in the third quarter. Verdence Capital Advisors LLC now owns 10,283 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 5,833 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Prologis by 77.1% in the third quarter. Assetmark Inc. now owns 53,165 shares of the real estate investment trust’s stock worth $6,714,000 after purchasing an additional 23,140 shares during the last quarter. Finally, Klingman & Associates LLC bought a new position in shares of Prologis in the third quarter worth about $465,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PLD shares. UBS Group upped their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Raymond James restated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Scotiabank cut their price target 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. Finally, Royal Bank of Canada increased their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. 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 has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Down 0.3 %

NYSE:PLD opened at $119.89 on Friday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The stock has a market capitalization of $111.12 billion, a P/E ratio of 29.97, 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 quick ratio of 0.43 and a current ratio of 0.75. The company’s 50-day simple moving average is $115.96 and its 200-day simple moving average is $117.97.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

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.