Hilton Capital Management LLC Has $6.81 Million Stake in Prologis, Inc. (NYSE:PLD)

Hilton Capital Management LLC decreased its position in Prologis, Inc. (NYSE:PLD) by 11.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 64,454 shares of the real estate investment trust’s stock after selling 8,705 shares during the period. Hilton Capital Management LLC’s holdings in Prologis were worth $6,813,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Analyst IMS Investment Management Services Ltd. boosted its stake in Prologis by 13.8% in the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 4,368 shares of the real estate investment trust’s stock worth $462,000 after purchasing an additional 529 shares during the period. Mondrian Investment Partners LTD boosted its stake in Prologis by 30.1% in the 4th 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 during the period. Impact Capital Partners LLC acquired a new position in Prologis in the 4th quarter worth approximately $1,205,000. Stelac Advisory Services LLC boosted its stake in 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 purchasing an additional 29,562 shares during the period. Finally, Tredje AP fonden boosted its stake in Prologis by 68.6% in the 4th quarter. Tredje AP fonden now owns 391,625 shares of the real estate investment trust’s stock worth $41,395,000 after purchasing an additional 159,356 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD opened at $110.17 on Friday. The company has a market capitalization of $102.11 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a one year low of $100.82 and a one year high of $133.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company’s fifty day moving average price is $116.77 and its 200 day moving average price is $117.72.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.67%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s 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 sale, 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 SEC, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. 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 report on Monday, January 27th. Robert W. Baird increased their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada increased their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Truist Financial increased their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Barclays increased their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. One equities research 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.