Brooklyn FI LLC Takes $383,000 Position in Prologis, Inc. (NYSE:PLD)

Brooklyn FI LLC bought a new position in Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,328 shares of the real estate investment trust’s stock, valued at approximately $383,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dunhill Financial LLC boosted its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Prologis in the 4th quarter valued at about $30,000. Promus Capital LLC purchased a new stake in Prologis during the 4th quarter valued at about $34,000. Whipplewood Advisors LLC bought a new position in Prologis during the 4th quarter worth approximately $34,000. Finally, Asset Planning Inc purchased a new position in Prologis in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the 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. 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 accessible through this link. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Truist Financial lifted their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group boosted their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Royal Bank of Canada boosted their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Finally, Wolfe Research lowered their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Up 0.6 %

Shares of Prologis stock opened at $113.03 on Thursday. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The firm has a market cap of $104.77 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 2.70 and a beta of 1.09. The company has a 50-day moving average of $117.31 and a 200 day moving average of $117.25. 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 Increases Dividend

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