Alley Investment Management Company LLC Buys 2,664 Shares of Prologis, Inc. (NYSE:PLD)

Alley Investment Management Company LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,421 shares of the real estate investment trust’s stock after purchasing an additional 2,664 shares during the period. Alley Investment Management Company LLC’s holdings in Prologis were worth $5,647,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. ASB Consultores LLC boosted its stake in Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 86 shares in the last quarter. Principle Wealth Partners LLC boosted its stake in Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after buying an additional 92 shares in the last quarter. Black Diamond Financial LLC boosted its stake in Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock worth $449,000 after buying an additional 93 shares in the last quarter. Carmel Capital Partners LLC boosted its stake in Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after buying an additional 94 shares in the last quarter. Finally, Berkshire Bank boosted its stake in Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after buying an additional 95 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

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 transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Prologis Price Performance

PLD opened at $123.48 on Tuesday. The stock has a fifty day simple moving average of $114.66 and a two-hundred day simple moving average of $118.00. 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 cap of $114.45 billion, a price-to-earnings ratio of 30.87, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.27%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Analyst Ratings Changes

Several brokerages have issued reports on PLD. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Robert W. Baird increased their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Truist Financial increased their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.