NEOS Investment Management LLC Purchases 13,587 Shares of Prologis, Inc. (NYSE:PLD)

NEOS Investment Management LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 31.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,655 shares of the real estate investment trust’s stock after buying an additional 13,587 shares during the period. NEOS Investment Management LLC’s holdings in Prologis were worth $5,988,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Murphy & Mullick Capital Management Corp bought a new stake in Prologis during the fourth quarter worth about $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Prologis in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis in the 4th quarter worth approximately $30,000. Dunhill Financial LLC increased its position in Prologis by 239.5% during the 3rd 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 in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in Prologis during the fourth quarter valued at $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’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 completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.50% of the company’s stock.

Prologis Price Performance

NYSE PLD opened at $110.95 on Friday. The company has a 50-day moving average price of $117.72 and a 200-day moving average price of $116.59. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $102.84 billion, a P/E ratio of 27.74, a PEG ratio of 2.70 and a beta of 1.09.

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 issued a dividend of $1.01 per share. 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 yield of 3.64%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is currently 101.00%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PLD. Mizuho cut their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. BTIG Research reduced their price objective 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. Royal Bank of Canada upped their target price 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 raised their price target 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. Finally, Robert W. Baird upped their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.78.

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.