Whipplewood Advisors LLC Takes Position in Prologis, Inc. (NYSE:PLD)

Whipplewood Advisors LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 319 shares of the real estate investment trust’s stock, valued at approximately $34,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. HM Payson & Co. boosted its position in shares of Prologis by 20.4% in the third quarter. HM Payson & Co. now owns 589 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 100 shares during the period. Stephens Inc. AR lifted its position in Prologis by 2.3% during the 3rd quarter. Stephens Inc. AR now owns 52,631 shares of the real estate investment trust’s stock worth $6,646,000 after acquiring an additional 1,173 shares in the last quarter. Principal Securities Inc. boosted its holdings in Prologis by 16.7% in the 3rd quarter. Principal Securities Inc. now owns 21,259 shares of the real estate investment trust’s stock worth $2,685,000 after acquiring an additional 3,045 shares during the period. Focus Financial Network Inc. acquired a new stake in Prologis in the third quarter valued at approximately $299,000. Finally, Gladstone Institutional Advisory LLC raised its stake in shares of Prologis by 3.7% during the third quarter. Gladstone Institutional Advisory LLC now owns 4,028 shares of the real estate investment trust’s stock valued at $509,000 after purchasing an additional 144 shares during the period. 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 stock in a transaction that occurred on 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 sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Prologis Stock Up 0.9 %

Shares of NYSE:PLD opened at $123.88 on Friday. The company’s fifty day moving average is $114.28 and its two-hundred day moving average is $118.05. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The stock has a market capitalization of $114.82 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth 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 $1.01 dividend. 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 3.26%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Robert W. Baird upped their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Wolfe Research cut their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Royal Bank of Canada raised their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

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.