Next Capital Management LLC Acquires Shares of 2,422 Prologis, Inc. (NYSE:PLD)

Next Capital Management LLC acquired a new position in shares of Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,422 shares of the real estate investment trust’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new position in Prologis during the fourth quarter worth about $30,000. Dunhill Financial LLC increased its holdings in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Whipplewood Advisors LLC bought a new position in shares of Prologis during the fourth quarter worth approximately $34,000. Promus Capital LLC acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $34,000. Finally, Asset Planning Inc bought a new stake in shares of Prologis in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PLD shares. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Robert W. Baird lifted their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. 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 report on Monday, January 27th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Finally, BTIG Research reduced their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

Shares of PLD opened at $112.27 on Wednesday. The stock has a 50-day moving average of $117.16 and a 200-day moving average of $117.28. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company has a market cap of $104.06 billion, a PE ratio of 28.07, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.60%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is 101.00%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

Prologis 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.