Horizon Investments LLC Acquires 116 Shares of Prologis, Inc. (NYSE:PLD)

Horizon Investments LLC increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,679 shares of the real estate investment trust’s stock after acquiring an additional 116 shares during the quarter. Horizon Investments LLC’s holdings in Prologis were worth $1,340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Dunhill Financial LLC raised its stake in shares of Prologis by 239.5% during the 3rd 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. Centricity Wealth Management LLC purchased a new stake in Prologis during the fourth quarter worth about $30,000. Promus Capital LLC bought a new stake in Prologis in the fourth quarter worth about $34,000. Whipplewood Advisors LLC purchased a new position in Prologis in the fourth quarter valued at about $34,000. Finally, Asset Planning Inc bought a new position in shares of Prologis during the 4th quarter valued at approximately $53,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $113.03 on Thursday. The firm has a market capitalization of $104.77 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The stock’s 50-day simple moving average is $117.31 and its two-hundred day simple moving average is $117.25. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57.

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 given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.57%. Prologis’s payout ratio is presently 101.00%.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of research reports. Wolfe Research lowered their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. BTIG Research lowered their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. UBS Group increased their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Robert W. Baird boosted 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. Finally, BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.78.

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.