Pring Turner Capital Group Inc. Acquires 4,791 Shares of Prologis, Inc. (NYSE:PLD)

Pring Turner Capital Group Inc. raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 13.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 40,667 shares of the real estate investment trust’s stock after acquiring an additional 4,791 shares during the period. Prologis makes up 2.9% of Pring Turner Capital Group Inc.’s holdings, making the stock its 14th largest position. Pring Turner Capital Group Inc.’s holdings in Prologis were worth $4,299,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PLD. ASB Consultores LLC increased its holdings in Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares during the last quarter. Principle Wealth Partners LLC increased its stake in shares of Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after acquiring an additional 92 shares during the last quarter. Black Diamond Financial LLC raised its position in shares of 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 valued at $449,000 after acquiring an additional 93 shares during the period. Carmel Capital Partners LLC boosted its stake in Prologis by 2.6% during the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 94 shares during the last quarter. Finally, Berkshire Bank grew its holdings in Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Down 0.2 %

Prologis stock opened at $120.71 on Tuesday. The company has a market cap of $111.88 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 2.70 and a beta of 1.10. The firm has a 50-day moving average of $112.80 and a 200-day moving average of $117.98. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76.

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 paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.35%. This is an increase 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 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 transaction, the executive now directly owns 7,977 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wolfe Research cut their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Mizuho dropped their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial boosted their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. 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. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average 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.