Enterprise Financial Services Corp Buys New Shares in Prologis, Inc. (NYSE:PLD)

Enterprise Financial Services Corp 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 2,075 shares of the real estate investment trust’s stock, valued at approximately $219,000.

Several other large investors have also recently bought and sold shares of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Prologis by 534.7% in the 3rd 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 valued at $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Prologis in the 4th quarter valued at $254,876,000. Janus Henderson Group PLC raised its stake in shares of Prologis by 145.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after buying an additional 2,138,693 shares in the last quarter. Cardano Risk Management B.V. acquired a new position in shares of Prologis in the 3rd quarter valued at $109,579,000. Finally, Jennison Associates LLC increased its position in shares of Prologis by 395.3% during the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after purchasing an additional 829,504 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Prologis Price Performance

NYSE:PLD opened at $119.89 on Friday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year 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 firm has a fifty day simple moving average of $115.96 and a 200 day simple moving average of $117.97. The stock has a market capitalization of $111.12 billion, a PE ratio of 29.97, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.37%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLD. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Wolfe Research reduced their price objective on shares of 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 lifted their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Mizuho dropped their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.