Next Capital Management LLC Takes $256,000 Position in Prologis, Inc. (NYSE:PLD)

Next Capital Management LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 2,422 shares of the real estate investment trust’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Empirical Asset Management LLC boosted its stake in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 52,963 shares during the period. Cardano Risk Management B.V. increased its position in shares of Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after purchasing an additional 179,880 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in Prologis in the third quarter valued at approximately $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Prologis during the third quarter valued at approximately $7,371,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PLD shares. Wolfe Research dropped their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. BTIG Research decreased their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, UBS Group lifted their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction 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 transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $112.27 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company’s fifty day moving average price is $117.16 and its 200-day moving average price is $117.28. The stock has a market cap of $104.06 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57.

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 paid a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.60%. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

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.