Prologis, Inc. (NYSE:PLD) Shares Bought by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co raised its stake in Prologis, Inc. (NYSE:PLD) by 12.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,443 shares of the real estate investment trust’s stock after purchasing an additional 2,280 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Prologis were worth $2,161,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in shares of Prologis in the 4th quarter valued at $30,000. Dunhill Financial LLC raised its stake in shares of Prologis by 239.5% in the 3rd 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 period. Hara Capital LLC purchased a new position in shares of Prologis in the 3rd quarter valued at $48,000. Coastline Trust Co purchased a new position in shares of Prologis in the 3rd quarter valued at $52,000. Finally, Asset Planning Inc purchased a new position in shares of Prologis in the 4th quarter valued at $53,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 1.6 %

NYSE PLD opened at $122.69 on Wednesday. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The company has a 50-day simple moving average of $113.07 and a 200-day simple moving average of $117.99. 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 market capitalization of $113.72 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.29%. Prologis’s payout ratio is 101.00%.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction 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. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of a number of research reports. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Royal Bank of Canada raised their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. UBS Group lifted their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Scotiabank dropped their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Finally, Robert W. Baird lifted their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus 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.