Peapack Gladstone Financial Corp Decreases Holdings in Prologis, Inc. (NYSE:PLD)

Peapack Gladstone Financial Corp reduced its position in Prologis, Inc. (NYSE:PLD) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,062 shares of the real estate investment trust’s stock after selling 510 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Prologis were worth $3,812,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PLD. Principle Wealth Partners LLC increased its position in Prologis by 2.9% during 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 buying an additional 92 shares in the last quarter. Black Diamond Financial LLC increased its holdings in shares of Prologis by 2.2% during the fourth 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 in the last quarter. Berkshire Bank raised its position in shares of Prologis by 2.3% in the 4th 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 last quarter. J.Safra Asset Management Corp boosted its stake in Prologis by 22.3% in the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 102 shares in the last quarter. Finally, West Wealth Group LLC grew its position in Prologis by 1.7% during the 4th quarter. West Wealth Group LLC now owns 6,206 shares of the real estate investment trust’s stock worth $656,000 after purchasing an additional 103 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of Prologis stock opened at $94.42 on Tuesday. The firm has a market cap of $87.52 billion, a PE ratio of 23.60, a P/E/G ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a twelve month low of $91.67 and a twelve month 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 business has a 50-day moving average price of $116.32 and a 200 day moving average price of $115.22.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 4.28%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s dividend payout ratio is presently 101.00%.

Insider Activity

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 completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of several research reports. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Robert W. Baird boosted their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Mizuho reduced their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Truist Financial lifted their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, BTIG Research reduced their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $126.78.

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.