Horizon Investments LLC Acquires 116 Shares of Prologis, Inc. (NYSE:PLD)

Horizon Investments LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,679 shares of the real estate investment trust’s stock after acquiring an additional 116 shares during the quarter. Horizon Investments LLC’s holdings in Prologis were worth $1,340,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in Prologis in the 4th quarter worth $30,000. Dunhill Financial LLC increased its holdings in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the period. Whipplewood Advisors LLC purchased a new position in shares of Prologis in the fourth quarter worth about $34,000. Promus Capital LLC bought a new stake in shares of Prologis in the 4th quarter valued at about $34,000. Finally, Asset Planning Inc purchased a new stake in Prologis during the 4th quarter valued at about $53,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Up 0.6 %

NYSE:PLD opened at $113.03 on Thursday. The firm has a market capitalization of $104.77 billion, a P/E ratio of 28.26, a PEG ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The company’s 50-day simple moving average is $117.31 and its 200 day simple moving average is $117.25.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.57%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is presently 101.00%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. BTIG Research lowered their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Robert W. Baird upped their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, UBS Group raised their target price 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 given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on 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 sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

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.