Forbes J M & Co. LLP Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Forbes J M & Co. LLP boosted its position in Prologis, Inc. (NYSE:PLD) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,080 shares of the real estate investment trust’s stock after acquiring an additional 213 shares during the period. Forbes J M & Co. LLP’s holdings in Prologis were worth $6,139,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PLD. Wilmington Savings Fund Society FSB increased its holdings in Prologis by 34.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 14,341 shares of the real estate investment trust’s stock valued at $1,516,000 after purchasing an additional 3,667 shares during the period. Apollon Wealth Management LLC lifted its stake in Prologis by 2.1% in the fourth quarter. Apollon Wealth Management LLC now owns 18,152 shares of the real estate investment trust’s stock worth $1,919,000 after acquiring an additional 380 shares during the period. Golden State Wealth Management LLC purchased a new position in Prologis during the 4th quarter valued at $100,000. Global X Japan Co. Ltd. increased its position in Prologis by 13.2% during the 4th quarter. Global X Japan Co. Ltd. now owns 3,107 shares of the real estate investment trust’s stock valued at $328,000 after purchasing an additional 363 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Prologis by 7.7% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 291,076 shares of the real estate investment trust’s stock valued at $30,767,000 after purchasing an additional 20,926 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Barclays lifted their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. UBS Group raised their target price on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, Mizuho dropped their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Performance

PLD opened at $117.39 on Friday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a market cap of $108.72 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.66 and a beta of 1.10. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $111.11 and its 200 day moving average is $118.24.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. Prologis’s dividend payout ratio is currently 96.00%.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’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 completion of the transaction, the executive now owns 7,977 shares of the company’s stock, valued at $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 available at this hyperlink. Insiders own 0.50% of the company’s stock.

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.