Figure 8 Investment Strategies LLC Acquires New Stake in Prologis, Inc. (NYSE:PLD)

Figure 8 Investment Strategies LLC bought a new position in Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 22,510 shares of the real estate investment trust’s stock, valued at approximately $2,379,000. Prologis makes up approximately 2.3% of Figure 8 Investment Strategies LLC’s portfolio, making the stock its 17th biggest holding.

A number of other institutional investors have also recently modified their holdings of the stock. Dunhill Financial LLC increased its stake in 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 purchasing an additional 182 shares in the last quarter. Hara Capital LLC purchased a new position in shares of Prologis in the third quarter worth $48,000. Coastline Trust Co purchased a new stake in shares of Prologis during the third quarter valued at $52,000. Fortitude Family Office LLC increased its holdings in Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 240 shares in the last quarter. Finally, Hanson & Doremus Investment Management lifted its stake in Prologis by 42.2% during the 4th quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 185 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Up 1.1 %

Shares of PLD stock opened at $121.07 on Friday. The stock has a market capitalization of $112.13 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. The stock’s 50-day moving average price is $111.39 and its 200-day moving average price is $118.15. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction 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 directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PLD shares. Mizuho lowered their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada increased their price objective on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Barclays boosted their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. 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 given a strong buy rating to the stock. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target 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.