Analyst IMS Investment Management Services Ltd. Acquires 529 Shares of Prologis, Inc. (NYSE:PLD)

Analyst IMS Investment Management Services Ltd. lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 13.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,368 shares of the real estate investment trust’s stock after purchasing an additional 529 shares during the quarter. Analyst IMS Investment Management Services Ltd.’s holdings in Prologis were worth $462,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Mondrian Investment Partners LTD raised its position in Prologis by 30.1% in the fourth quarter. Mondrian Investment Partners LTD now owns 840,390 shares of the real estate investment trust’s stock worth $88,829,000 after purchasing an additional 194,616 shares in the last quarter. Impact Capital Partners LLC bought a new stake in shares of Prologis in the 4th quarter valued at approximately $1,205,000. Stelac Advisory Services LLC raised its holdings in shares of Prologis by 21.4% in the 4th quarter. Stelac Advisory Services LLC now owns 167,957 shares of the real estate investment trust’s stock worth $17,753,000 after buying an additional 29,562 shares in the last quarter. Tredje AP fonden lifted its position in shares of Prologis by 68.6% during the 4th quarter. Tredje AP fonden now owns 391,625 shares of the real estate investment trust’s stock worth $41,395,000 after buying an additional 159,356 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Prologis in the 4th quarter valued at $11,308,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

Prologis stock opened at $110.17 on Friday. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $133.18. The company’s 50-day moving average is $116.77 and its two-hundred day moving average is $117.72. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market cap of $102.11 billion, a PE ratio of 27.54, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.67%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s 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 directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PLD shares. UBS Group increased their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Truist Financial lifted their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Barclays upped their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, Scotiabank cut their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.78.

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.