Richard W. Paul & Associates LLC Increases Holdings in Prologis, Inc. (NYSE:PLD)

Richard W. Paul & Associates LLC raised its stake in Prologis, Inc. (NYSE:PLD) by 17.5% during the 4th quarter, HoldingsChannel reports. The firm owned 4,130 shares of the real estate investment trust’s stock after acquiring an additional 616 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in Prologis were worth $437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLD. Dunhill Financial LLC raised its holdings in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the period. Centricity Wealth Management LLC acquired a new stake in Prologis in the fourth quarter valued at approximately $30,000. Whipplewood Advisors LLC purchased a new stake in shares of Prologis during the fourth quarter valued at approximately $34,000. Hara Capital LLC acquired a new position in shares of Prologis during the third quarter worth $48,000. Finally, Coastline Trust Co acquired a new stake in Prologis during the 3rd quarter valued at $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. BMO Capital Markets cut 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 research note on Friday, December 6th. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. UBS Group lifted their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Robert W. Baird raised their price target 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

Shares of PLD stock opened at $123.88 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $114.28 and a two-hundred day moving average of $118.08. The company has a market cap of $114.82 billion, a P/E ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is presently 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.