Prologis, Inc. (NYSE:PLD) Shares Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC boosted its holdings in Prologis, Inc. (NYSE:PLD) by 21.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,523 shares of the real estate investment trust’s stock after acquiring an additional 2,240 shares during the period. Verdence Capital Advisors LLC’s holdings in Prologis were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Empirical Asset Management LLC boosted its holdings in Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares during the period. Cardano Risk Management B.V. boosted its holdings in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in Prologis in the third quarter worth $1,051,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Prologis in the third quarter worth $7,371,000. Finally, Cumberland Partners Ltd acquired a new position in Prologis in the third quarter worth $1,566,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Prologis Price Performance

Shares of NYSE PLD opened at $124.08 on Thursday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $115.00 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 2.70 and a beta of 1.09. The firm has a 50-day moving average of $115.40 and a two-hundred day moving average of $118.03.

Prologis Increases Dividend

The firm also recently declared 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. This represents a $4.04 dividend on an annualized basis and a yield of 3.26%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio is presently 101.00%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PLD shares. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Truist Financial boosted their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, BTIG Research reduced their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target 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.