GSI Capital Advisors LLC Buys 29,886 Shares of Prologis, Inc. (NYSE:PLD)

GSI Capital Advisors LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 31.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,832 shares of the real estate investment trust’s stock after acquiring an additional 29,886 shares during the period. Prologis comprises about 7.0% of GSI Capital Advisors LLC’s holdings, making the stock its 2nd biggest position. GSI Capital Advisors LLC’s holdings in Prologis were worth $13,300,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PLD. Empirical Asset Management LLC boosted its position in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. grew its stake in Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after acquiring an additional 25,266 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Prologis by 29.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after acquiring an additional 179,880 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Prologis during the third quarter worth about $1,051,000. Finally, Allstate Corp lifted its holdings in shares of Prologis by 111.7% in the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock valued at $7,877,000 after purchasing an additional 39,321 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 0.3 %

PLD opened at $111.49 on Wednesday. The firm’s 50 day moving average is $117.67 and its 200-day moving average is $115.98. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $103.33 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a $1.01 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.62%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is currently 101.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PLD shares. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Scotiabank reduced their price objective 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. Wolfe Research dropped their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Mizuho decreased their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. 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.com, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

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.