Lee Danner & Bass Inc. Buys 125 Shares of Prologis, Inc. (NYSE:PLD)

Lee Danner & Bass Inc. lifted its stake in Prologis, Inc. (NYSE:PLD) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,801 shares of the real estate investment trust’s stock after buying an additional 125 shares during the period. Lee Danner & Bass Inc.’s holdings in Prologis were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new stake in Prologis during the fourth quarter worth $30,000. Dunhill Financial LLC lifted its stake in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Prologis during the fourth quarter worth $34,000. Promus Capital LLC bought a new stake in Prologis during the fourth quarter worth $34,000. Finally, Asset Planning Inc bought a new stake in Prologis during the fourth quarter worth $53,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

NYSE PLD opened at $108.27 on Friday. The company has a market capitalization of $100.35 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The stock has a fifty day simple moving average of $117.54 and a 200 day simple moving average of $117.07. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The company 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 dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.73%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is 101.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PLD shares. Scotiabank cut their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. Truist Financial upped their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Finally, UBS Group upped their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

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.