Meitav Investment House Ltd. Buys 60,872 Shares of Prologis, Inc. (NYSE:PLD)

Meitav Investment House Ltd. boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 657,531 shares of the real estate investment trust’s stock after buying an additional 60,872 shares during the quarter. Prologis makes up approximately 1.2% of Meitav Investment House Ltd.’s investment portfolio, making the stock its 25th largest position. Meitav Investment House Ltd. owned approximately 0.07% of Prologis worth $69,466,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Dunhill Financial LLC boosted its stake in 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 purchasing an additional 182 shares during the period. Hara Capital LLC bought a new stake in shares of Prologis during the 3rd quarter worth approximately $48,000. Coastline Trust Co bought a new position in Prologis in the third quarter valued at approximately $52,000. Fortitude Family Office LLC raised its position in Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares in the last quarter. Finally, Asset Planning Inc bought a new stake in Prologis during the fourth quarter worth $53,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.4 %

Shares of NYSE PLD opened at $121.76 on Thursday. The business’s 50 day moving average is $112.18 and its two-hundred day moving average is $117.99. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The firm has a market cap of $112.77 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 2.70 and a beta of 1.10.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is currently 96.00%.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred 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 represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research analyst reports. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Robert W. Baird lifted their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. 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. UBS Group boosted their target price on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Wolfe Research decreased their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

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.