BankPlus Trust Department Makes New Investment in Prologis, Inc. (NYSE:PLD)

BankPlus Trust Department bought a new stake in shares of Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 10,290 shares of the real estate investment trust’s stock, valued at approximately $1,088,000.

Other hedge funds have also made changes to their positions in the company. Centricity Wealth Management LLC acquired a new stake in Prologis in the fourth quarter valued at $30,000. Dunhill Financial LLC raised its stake in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares in the last quarter. Hara Capital LLC bought a new position in shares of Prologis during the third quarter worth about $48,000. Coastline Trust Co acquired a new position in Prologis in the third quarter worth about $52,000. Finally, Asset Planning Inc bought a new stake in Prologis in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PLD shares. Truist Financial boosted their price target on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Scotiabank lowered their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. UBS Group raised their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada boosted their price target on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

PLD opened at $121.01 on Monday. The firm has a market capitalization of $112.16 billion, a P/E ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.10. The stock has a fifty day moving average of $112.56 and a 200-day moving average of $117.99. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Increases Dividend

The firm also recently disclosed 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. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is currently 96.00%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

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.