Prologis, Inc. (NYSE:PLD) Shares Bought by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 853.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 192,612 shares of the real estate investment trust’s stock after purchasing an additional 172,412 shares during the period. Prologis accounts for 0.8% of New Age Alpha Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. New Age Alpha Advisors LLC’s holdings in Prologis were worth $20,359,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis in the fourth quarter worth $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis in the 4th quarter valued at $30,000. Dunhill Financial LLC grew its stake in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Prologis in the fourth quarter valued at $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Down 0.2 %

Shares of PLD opened at $110.95 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The company has a market cap of $102.84 billion, a P/E ratio of 27.74, a P/E/G ratio of 2.70 and a beta of 1.09. The firm has a 50 day simple moving average of $117.72 and a two-hundred day simple moving average of $116.59.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. 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 dividend yield of 3.64%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insiders Place Their Bets

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 shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wolfe Research dropped their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Truist Financial increased their price target on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, Scotiabank dropped their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

About Prologis

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.