Prologis, Inc. (NYSE:PLD) Shares Acquired by Black Diamond Financial LLC

Black Diamond Financial LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,246 shares of the real estate investment trust’s stock after purchasing an additional 93 shares during the period. Black Diamond Financial LLC’s holdings in Prologis were worth $449,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Centricity Wealth Management LLC acquired a new position in Prologis in the fourth quarter valued at approximately $30,000. Dunhill Financial LLC lifted its holdings in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares during the last quarter. Hara Capital LLC acquired a new position in Prologis in the third quarter valued at approximately $48,000. Coastline Trust Co acquired a new position in Prologis in the third quarter valued at approximately $52,000. Finally, Asset Planning Inc acquired a new position in Prologis in the fourth quarter valued at approximately $53,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent analyst reports. UBS Group upped their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Scotiabank decreased their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Truist Financial upped their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. BTIG Research decreased their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Up 0.1 %

Prologis stock opened at $121.01 on Monday. The firm has a market capitalization of $112.16 billion, a P/E ratio of 30.25, a P/E/G ratio of 2.70 and a beta of 1.10. The stock’s fifty day simple moving average is $112.56 and its 200-day simple moving average is $117.99. The company has a current ratio of 0.75, a quick ratio of 0.43 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.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.34%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is 96.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The stock was 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 of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.