Howard Capital Management Inc. Buys 346 Shares of Prologis, Inc. (NYSE:PLD)

Howard Capital Management Inc. grew its stake in Prologis, Inc. (NYSE:PLD) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,294 shares of the real estate investment trust’s stock after purchasing an additional 346 shares during the quarter. Howard Capital Management Inc.’s holdings in Prologis were worth $665,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after acquiring an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after purchasing an additional 2,138,693 shares during the last quarter. AMF Tjanstepension AB lifted its position in shares of Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares in the last quarter. Cardano Risk Management B.V. purchased a new position in Prologis during the third quarter worth about $109,579,000. Finally, Jennison Associates LLC grew its position in Prologis by 395.3% in the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after purchasing an additional 829,504 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of several recent analyst reports. UBS Group lifted their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Mizuho reduced their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Scotiabank reduced their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was 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 0.56% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $120.71 on Tuesday. The firm has a market capitalization of $111.88 billion, a P/E ratio of 30.18, a PEG ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. 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 business has a fifty day moving average price of $112.80 and a 200-day moving average price of $117.98.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.35%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

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.