Prologis, Inc. (NYSE:PLD) Shares Bought by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC raised its position in Prologis, Inc. (NYSE:PLD) by 8.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,649 shares of the real estate investment trust’s stock after acquiring an additional 200 shares during the period. Perennial Investment Advisors LLC’s holdings in Prologis were worth $280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis in the 4th quarter valued at approximately $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis during the 4th quarter worth $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis in the 4th quarter valued at about $30,000. Dunhill Financial LLC increased its holdings in shares of Prologis by 239.5% in 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 in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Prologis during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PLD shares. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Robert W. Baird boosted their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Truist Financial lifted their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Down 3.4 %

Prologis stock opened at $98.10 on Monday. The firm has a market capitalization of $90.94 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a 50-day simple moving average of $116.86 and a 200-day simple moving average of $115.46. Prologis, Inc. has a one year low of $95.34 and a one year high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 annualized dividend and a dividend yield of 4.12%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.