Arbor Capital Management Inc. ADV Raises Position in Prologis, Inc. (NYSE:PLD)

Arbor Capital Management Inc. ADV increased its holdings in Prologis, Inc. (NYSE:PLD) by 5.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,829 shares of the real estate investment trust’s stock after buying an additional 611 shares during the period. Arbor Capital Management Inc. ADV’s holdings in Prologis were worth $1,250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLD. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the fourth quarter worth $30,000. Dunhill Financial LLC raised its position in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Prologis in the fourth quarter worth $34,000. Promus Capital LLC purchased a new stake in shares of Prologis in the fourth quarter worth $34,000. Finally, Coastline Trust Co purchased a new stake in shares of Prologis in the third quarter worth $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Stock Up 1.5 %

PLD stock opened at $111.98 on Monday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The business’s 50 day moving average price is $116.89 and its two-hundred day moving average price is $117.46. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a market capitalization of $103.79 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.61%. Prologis’s dividend payout ratio is 101.00%.

Analysts Set New Price Targets

A number of research firms have weighed in on PLD. UBS Group raised their price target on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Royal Bank of Canada raised their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Scotiabank lowered their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Finally, BTIG Research reduced their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. 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.