Mendel Money Management Increases Holdings in Prologis, Inc. (NYSE:PLD)

Mendel Money Management increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,644 shares of the real estate investment trust’s stock after purchasing an additional 114 shares during the quarter. Mendel Money Management’s holdings in Prologis were worth $491,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empirical Asset Management LLC raised its position in shares of Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. grew its position in shares of Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after purchasing an additional 179,880 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of Prologis in the third quarter worth about $1,051,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Prologis by 1.3% in the third quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock worth $92,048,000 after buying an additional 9,147 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Royal Bank of Canada upped their price objective on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Scotiabank dropped their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. Robert W. Baird upped their target price 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. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, BTIG Research decreased their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. One investment 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. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was 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 owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.

Prologis Trading Down 0.9 %

NYSE:PLD opened at $109.32 on Wednesday. The firm has a 50-day simple moving average of $117.66 and a 200-day simple moving average of $116.67. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The firm has a market cap of $101.32 billion, a P/E ratio of 27.33, a P/E/G ratio of 2.70 and a beta of 1.09. 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 Increases Dividend

The business 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. 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 3.70%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is currently 101.00%.

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.