Waverton Investment Management Ltd Purchases 194,923 Shares of Prologis, Inc. (NYSE:PLD)

Waverton Investment Management Ltd raised its holdings in Prologis, Inc. (NYSE:PLD) by 61.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 510,899 shares of the real estate investment trust’s stock after acquiring an additional 194,923 shares during the quarter. Prologis accounts for approximately 0.9% of Waverton Investment Management Ltd’s investment portfolio, making the stock its 28th largest holding. Waverton Investment Management Ltd’s holdings in Prologis were worth $54,010,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Centricity Wealth Management LLC purchased a new stake in Prologis in the 4th quarter worth approximately $30,000. Dunhill Financial LLC boosted its stake in Prologis by 239.5% in the 3rd 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 in the last quarter. Hara Capital LLC purchased a new stake in shares of Prologis during the third quarter valued at approximately $48,000. Coastline Trust Co bought a new stake in shares of Prologis in the 3rd quarter worth $52,000. Finally, Asset Planning Inc bought a new stake in Prologis in the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.1 %

Shares of PLD stock opened at $121.01 on Monday. The firm’s 50 day moving average price is $112.56 and its two-hundred day moving average price is $117.99. 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 fifty-two week low of $100.82 and a fifty-two week high of $135.76. The stock has a market cap of $112.16 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on PLD. UBS Group raised their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Robert W. Baird lifted their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Barclays lifted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Scotiabank decreased their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Finally, BTIG Research dropped their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.