5,800 Shares in Prologis, Inc. (NYSE:PLD) Purchased by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC purchased a new stake in Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,800 shares of the real estate investment trust’s stock, valued at approximately $613,000. Prologis comprises approximately 1.3% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 25th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Crowley Wealth Management Inc. bought a new position in Prologis in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new stake in Prologis in the 4th quarter valued at about $30,000. Dunhill Financial LLC raised its position in shares of 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 period. Whipplewood Advisors LLC bought a new position in shares of Prologis in the fourth quarter valued at $34,000. Finally, Promus Capital LLC bought a new position in Prologis in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PLD shares. Scotiabank reduced their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Wolfe Research cut their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Truist Financial upped their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada upped their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Finally, UBS Group lifted their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on 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 sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Prologis Trading Down 3.4 %

Prologis stock opened at $108.27 on Monday. The stock’s 50 day simple moving average is $117.54 and its two-hundred day simple moving average is $116.92. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57. The firm has a market cap of $100.35 billion, a PE ratio of 27.07, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is 101.00%.

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.