Prologis, Inc. (NYSE:PLD) Shares Purchased by Black Diamond Financial LLC

Black Diamond Financial LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,246 shares of the real estate investment trust’s stock after purchasing an additional 93 shares during the quarter. Black Diamond Financial LLC’s holdings in Prologis were worth $449,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PLD. Centricity Wealth Management LLC acquired a new stake in Prologis during the 4th quarter worth about $30,000. Dunhill Financial LLC lifted its position in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the period. Hara Capital LLC acquired a new stake in Prologis during the 3rd quarter worth about $48,000. Coastline Trust Co acquired a new stake in Prologis during the 3rd quarter worth about $52,000. Finally, Asset Planning Inc acquired a new stake in Prologis during the 4th quarter worth about $53,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by company insiders.

Prologis Price Performance

Shares of Prologis stock opened at $121.01 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The business has a 50-day moving average price of $112.56 and a 200 day moving average price of $117.99. The firm has a market cap of $112.16 billion, a PE ratio of 30.25, a P/E/G ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.34%. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is 96.00%.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research reports. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Truist Financial lifted their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Wolfe Research reduced their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, UBS Group lifted their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $128.78.

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.