Certuity LLC Buys New Shares in Prologis, Inc. (NYSE:PLD)

Certuity LLC purchased a new stake in shares of Prologis, Inc. (NYSE:PLD) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,128 shares of the real estate investment trust’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. State Street Corp grew its stake in shares of Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after acquiring an additional 767,609 shares during the period. Geode Capital Management LLC lifted its holdings in Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after purchasing an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Prologis by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after purchasing an additional 441,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares in the last quarter. Finally, Swedbank AB raised its position in shares of Prologis by 1.8% during the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock valued at $486,514,000 after purchasing an additional 80,575 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PLD. Scotiabank dropped their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Barclays boosted their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Robert W. Baird increased their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Trading Up 1.1 %

Shares of NYSE PLD opened at $121.07 on Friday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The business’s 50 day moving average is $111.39 and its two-hundred day moving average is $118.15. The stock has a market capitalization of $112.13 billion, a P/E ratio of 30.27, a PEG ratio of 2.64 and a beta of 1.10.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

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 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 in the company, valued at $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 is available at this link. 0.50% of the stock is currently owned by insiders.

About Prologis

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.