Mattern Capital Management LLC Purchases 3,632 Shares of Prologis, Inc. (NYSE:PLD)

Mattern Capital Management LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,923 shares of the real estate investment trust’s stock after purchasing an additional 3,632 shares during the period. Mattern Capital Management LLC’s holdings in Prologis were worth $7,919,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dunhill Financial LLC grew 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 valued at $33,000 after acquiring an additional 182 shares in the last quarter. Hara Capital LLC purchased a new position in Prologis during the third quarter valued at $48,000. Coastline Trust Co purchased a new position in Prologis during the third quarter valued at $52,000. Asset Planning Inc purchased a new position in Prologis during the fourth quarter valued at $53,000. Finally, Fortitude Family Office LLC grew its stake in shares of Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 240 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on PLD shares. UBS Group lifted their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Barclays lifted their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

Prologis Stock Down 0.6 %

Shares of NYSE:PLD opened at $120.90 on Friday. The firm’s 50 day moving average price is $112.36 and its 200 day moving average price is $118.01. The stock has a market cap of $112.05 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 2.71 and a beta of 1.10. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The business also recently disclosed 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 represents a $4.04 dividend on an annualized basis and a yield of 3.34%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

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.