MIG Capital LLC Invests $16.85 Million in Prologis, Inc. (NYSE:PLD)

MIG Capital LLC purchased a new stake in Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 159,400 shares of the real estate investment trust’s stock, valued at approximately $16,849,000. Prologis accounts for approximately 1.7% of MIG Capital LLC’s investment portfolio, making the stock its 20th biggest position.

A number of other institutional investors have also recently bought and sold shares of PLD. Principle Wealth Partners LLC boosted its holdings in shares of Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after buying an additional 92 shares during the period. Black Diamond Financial LLC boosted its stake in Prologis by 2.2% in the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock worth $449,000 after purchasing an additional 93 shares during the period. Berkshire Bank grew its position in Prologis by 2.3% during the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 95 shares in the last quarter. J.Safra Asset Management Corp raised its stake in Prologis by 22.3% during the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 102 shares during the period. Finally, West Wealth Group LLC lifted its holdings in shares of Prologis by 1.7% in the fourth quarter. West Wealth Group LLC now owns 6,206 shares of the real estate investment trust’s stock valued at $656,000 after purchasing an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was 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 owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research analyst reports. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. BTIG Research lowered their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Mizuho reduced their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Scotiabank decreased their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Finally, Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Trading Down 3.4 %

NYSE:PLD opened at $98.10 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $116.86 and its 200-day moving average is $115.54. The firm has a market cap of $90.94 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 12 month low of $95.34 and a 12 month high of $132.57.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 4.12%. Prologis’s payout ratio is currently 101.00%.

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.