Slagle Financial LLC Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

Slagle Financial LLC boosted its stake in Prologis, Inc. (NYSE:PLD) by 5.6% during the fourth quarter, HoldingsChannel reports. The firm owned 20,989 shares of the real estate investment trust’s stock after buying an additional 1,120 shares during the period. Slagle Financial LLC’s holdings in Prologis were worth $2,219,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Centaurus Financial Inc. bought a new stake in shares of Prologis during the 3rd quarter worth $112,000. Loomis Sayles & Co. L P lifted its stake in Prologis by 202.2% during the third quarter. Loomis Sayles & Co. L P now owns 1,233 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 825 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Prologis by 10.3% in the 3rd quarter. Private Trust Co. NA now owns 3,795 shares of the real estate investment trust’s stock worth $479,000 after purchasing an additional 354 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Prologis by 1.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock valued at $92,048,000 after purchasing an additional 9,147 shares during the last quarter. Finally, Cadence Bank raised its holdings in shares of Prologis by 6.1% during the 3rd quarter. Cadence Bank now owns 4,073 shares of the real estate investment trust’s stock valued at $514,000 after buying an additional 234 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

PLD stock opened at $110.95 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm has a 50 day moving average price of $117.72 and a 200-day moving average price of $116.59. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57. The firm has a market capitalization of $102.84 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 2.70 and a beta of 1.09.

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 issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.64%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Analyst Upgrades and Downgrades

PLD has been the subject of several research reports. Truist Financial upped their target price on Prologis from $121.00 to $123.00 and gave the stock 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 cut their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Wolfe Research decreased their target price 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. UBS Group upped their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Mizuho decreased their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insider Transactions at Prologis

In related 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 value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

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.