Dover Advisors LLC Acquires 979 Shares of Prologis, Inc. (NYSE:PLD)

Dover Advisors LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 22.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,336 shares of the real estate investment trust’s stock after acquiring an additional 979 shares during the quarter. Dover Advisors LLC’s holdings in Prologis were worth $564,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Centricity Wealth Management LLC purchased a new stake in Prologis in the fourth quarter worth about $30,000. Dunhill Financial LLC boosted its position 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 worth $33,000 after purchasing an additional 182 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of Prologis in the 3rd quarter worth approximately $48,000. Coastline Trust Co bought a new position in Prologis during the 3rd quarter valued at approximately $52,000. Finally, Asset Planning Inc purchased a new position in Prologis during the fourth quarter valued at $53,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

NYSE PLD opened at $121.01 on Monday. The company has a 50-day moving average price of $112.56 and a 200-day moving average price of $117.99. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. 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 $112.16 billion, a P/E ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.10.

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 3.34%. 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 Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PLD shares. Wolfe Research cut their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Truist Financial increased their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Mizuho decreased their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. BTIG Research cut their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, Royal Bank of Canada raised their price target on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average 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.