NEOS Investment Management LLC Grows Stake in Prologis, Inc. (NYSE:PLD)

NEOS Investment Management LLC increased its holdings in Prologis, Inc. (NYSE:PLD) by 31.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,655 shares of the real estate investment trust’s stock after buying an additional 13,587 shares during the period. NEOS Investment Management LLC’s holdings in Prologis were worth $5,988,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PLD. Murphy & Mullick Capital Management Corp bought a new stake in shares of Prologis during the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new stake in Prologis in the fourth quarter valued at approximately $30,000. Dunhill Financial LLC lifted its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in Prologis in the 4th quarter worth approximately $34,000. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD stock opened at $110.95 on Friday. 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, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The firm has a market cap of $102.84 billion, a P/E ratio of 27.74, a P/E/G ratio of 2.70 and a beta of 1.09. The business’s 50 day moving average price is $117.72 and its 200-day moving average price is $116.59.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.64%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is 101.00%.

Analyst Ratings Changes

PLD has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Wolfe Research dropped their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. BTIG Research dropped their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, Scotiabank reduced their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated 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 transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

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.