Sandy Spring Bank Buys 1,019 Shares of Prologis, Inc. (NYSE:PLD)

Sandy Spring Bank raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 5.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 21,462 shares of the real estate investment trust’s stock after acquiring an additional 1,019 shares during the period. Sandy Spring Bank’s holdings in Prologis were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empirical Asset Management LLC increased its holdings 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 last quarter. Cardano Risk Management B.V. increased its holdings in Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after buying an additional 25,266 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after buying an additional 179,880 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in Prologis during the third quarter valued at approximately $1,051,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Prologis by 1.3% during the third quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock valued at $92,048,000 after buying an additional 9,147 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Down 0.9 %

Shares of PLD opened at $112.01 on Friday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $132.57. The company has a 50-day moving average of $117.44 and a 200 day moving average of $117.21. The firm has a market capitalization of $103.81 billion, a price-to-earnings ratio of 28.00, 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 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 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 yield of 3.61%. Prologis’s dividend payout ratio (DPR) is 101.00%.

Analyst Upgrades and Downgrades

A number of analysts have commented on PLD shares. Wolfe Research reduced their target price 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. Royal Bank of Canada increased their price objective on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. UBS Group increased their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Truist Financial increased their price objective 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. Finally, Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. One equities research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

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.