Pring Turner Capital Group Inc. Buys 4,791 Shares of Prologis, Inc. (NYSE:PLD)

Pring Turner Capital Group Inc. raised its position in Prologis, Inc. (NYSE:PLD) by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,667 shares of the real estate investment trust’s stock after buying an additional 4,791 shares during the quarter. Prologis accounts for 2.9% of Pring Turner Capital Group Inc.’s holdings, making the stock its 14th biggest holding. Pring Turner Capital Group Inc.’s holdings in Prologis were worth $4,299,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. BankPlus Trust Department bought a new position in Prologis during the 4th quarter worth $1,088,000. Impax Asset Management Group plc grew its holdings in shares of Prologis by 15.0% during the 4th quarter. Impax Asset Management Group plc now owns 322,764 shares of the real estate investment trust’s stock worth $34,116,000 after purchasing an additional 42,091 shares in the last quarter. Crestwood Advisors Group LLC increased its position in shares of Prologis by 28.9% in the fourth quarter. Crestwood Advisors Group LLC now owns 2,237 shares of the real estate investment trust’s stock worth $236,000 after purchasing an additional 502 shares during the period. IFP Advisors Inc increased its position in shares of Prologis by 29.7% in the fourth quarter. IFP Advisors Inc now owns 4,624 shares of the real estate investment trust’s stock worth $489,000 after purchasing an additional 1,058 shares during the period. Finally, Waverton Investment Management Ltd raised its stake in Prologis by 61.7% in the fourth quarter. Waverton Investment Management Ltd now owns 510,899 shares of the real estate investment trust’s stock valued at $54,010,000 after purchasing an additional 194,923 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PLD shares. BTIG Research reduced their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. UBS Group lifted their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Barclays boosted their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. One 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

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 transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.56% of the stock is owned by company insiders.

Prologis Price Performance

Shares of NYSE PLD opened at $120.71 on Tuesday. The company has a market capitalization of $111.88 billion, a PE ratio of 30.18, a P/E/G ratio of 2.70 and a beta of 1.10. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The firm has a fifty day simple moving average of $112.80 and a 200 day simple moving average of $117.98.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.35%. Prologis’s dividend payout ratio (DPR) is 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.