Rise Advisors LLC Takes $49,000 Position in Prologis, Inc. (NYSE:PLD)

Rise Advisors LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLDFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 370 shares of the real estate investment trust’s stock, valued at approximately $49,000.

Several other hedge funds have also recently made changes to their positions in PLD. DNB Asset Management AS raised its position in Prologis by 17.1% in the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after purchasing an additional 42,073 shares during the period. Selway Asset Management purchased a new stake in Prologis in the 3rd quarter worth about $177,000. LDR Capital Management LLC purchased a new stake in Prologis in the 3rd quarter worth about $969,000. Sarasin & Partners LLP raised its position in Prologis by 18.3% in the 4th quarter. Sarasin & Partners LLP now owns 1,510,873 shares of the real estate investment trust’s stock worth $201,399,000 after purchasing an additional 233,881 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Prologis by 7.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 460,514 shares of the real estate investment trust’s stock worth $51,674,000 after acquiring an additional 31,840 shares in the last quarter. 90.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLD. Truist Financial restated a “buy” rating and issued a $120.00 target price on shares of Prologis in a research note on Monday, November 27th. Royal Bank of Canada increased their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Mizuho increased their price objective on shares of Prologis from $125.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Robert W. Baird increased their price objective on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $130.00 price objective on shares of Prologis in a research note on Tuesday, November 21st. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target of $142.47.

Read Our Latest Research Report on Prologis

Insider Activity

In related news, Director James B. Connor sold 103,331 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $133.20, for a total transaction of $13,763,689.20. Following the transaction, the director now directly owns 21,419 shares in the company, valued at $2,853,010.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

Prologis Stock Performance

PLD stock traded down $0.50 during midday trading on Tuesday, hitting $127.64. 130,026 shares of the stock traded hands, compared to its average volume of 3,101,992. The firm has a market cap of $118.05 billion, a P/E ratio of 38.95, a PEG ratio of 2.58 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s fifty day simple moving average is $131.00 and its 200-day simple moving average is $121.43. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52.

Prologis (NYSE:PLDGet Free Report) last released its quarterly earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 EPS. On average, analysts expect that Prologis, Inc. will post 5.5 earnings per share for the current year.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 18th will be given a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date is Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.01%. Prologis’s dividend payout ratio (DPR) is 116.72%.

About Prologis

(Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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