Central Pacific Bank Trust Division Purchases New Shares in Prologis, Inc. (NYSE:PLD)

Central Pacific Bank Trust Division acquired a new stake in Prologis, Inc. (NYSE:PLD) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,587 shares of the real estate investment trust’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Columbia Trust Co 01012016 lifted its holdings in Prologis by 16.0% in the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after purchasing an additional 723 shares in the last quarter. Janney Capital Management LLC lifted its holdings in Prologis by 18.8% in the 4th quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust’s stock valued at $3,182,000 after purchasing an additional 3,773 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in Prologis by 39.4% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after purchasing an additional 11,882 shares in the last quarter. Atalanta Sosnoff Capital LLC purchased a new position in Prologis in the 4th quarter valued at $18,551,000. Finally, DNB Asset Management AS lifted its holdings in Prologis by 17.1% in the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after purchasing an additional 42,073 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PLD shares. Argus reduced their price target on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. StockNews.com lowered Prologis from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Robert W. Baird reduced their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group reduced their price target on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Barclays reduced their price target on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.76.

Prologis Trading Up 0.4 %

NYSE PLD traded up $0.51 during trading on Wednesday, hitting $114.96. The stock had a trading volume of 312,044 shares, compared to its average volume of 3,669,061. The company has a market capitalization of $106.43 billion, a PE ratio of 33.58, a PEG ratio of 2.55 and a beta of 1.06. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average price of $109.50 and a 200 day moving average price of $120.81. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s dividend payout ratio is currently 112.28%.

Prologis Company 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.