Ieq Capital LLC Raises Holdings in Prologis, Inc. (NYSE:PLD)

Ieq Capital LLC grew its position in shares of Prologis, Inc. (NYSE:PLD) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,703 shares of the real estate investment trust’s stock after buying an additional 103 shares during the period. Ieq Capital LLC’s holdings in Prologis were worth $3,668,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. TKG Advisors LLC lifted its holdings in Prologis by 0.8% during the 4th quarter. TKG Advisors LLC now owns 20,299 shares of the real estate investment trust’s stock worth $2,146,000 after purchasing an additional 153 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Prologis by 1.6% during the 4th quarter. Global Retirement Partners LLC now owns 17,153 shares of the real estate investment trust’s stock worth $1,813,000 after purchasing an additional 263 shares in the last quarter. Bank of Jackson Hole Trust purchased a new stake in Prologis during the 4th quarter worth about $229,000. Callahan Advisors LLC lifted its holdings in Prologis by 30.9% during the 4th quarter. Callahan Advisors LLC now owns 27,804 shares of the real estate investment trust’s stock worth $2,939,000 after purchasing an additional 6,566 shares in the last quarter. Finally, Buckingham Capital Management Inc. lifted its holdings in Prologis by 0.9% during the 4th quarter. Buckingham Capital Management Inc. now owns 23,123 shares of the real estate investment trust’s stock worth $2,444,000 after purchasing an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLD. Robert W. Baird increased their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wolfe Research dropped their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. UBS Group upped their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. 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 given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Activity at Prologis

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

Prologis Price Performance

Shares of Prologis stock opened at $121.01 on Friday. 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 firm has a market capitalization of $112.16 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The business’s 50-day moving average price is $112.56 and its 200-day moving average price is $118.01. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Increases Dividend

The business 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 dividend of $1.01 per share. 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 annualized dividend and a yield of 3.34%. Prologis’s dividend payout ratio is currently 96.00%.

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.