12,760 Shares in Prologis, Inc. (NYSE:PLD) Bought by GAM Holding AG

GAM Holding AG acquired a new stake in Prologis, Inc. (NYSE:PLD) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 12,760 shares of the real estate investment trust’s stock, valued at approximately $1,349,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ASB Consultores LLC increased its holdings 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 valued at $306,000 after buying an additional 86 shares in the last quarter. Principle Wealth Partners LLC increased its holdings 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 valued at $349,000 after buying an additional 92 shares in the last quarter. DT Investment Partners LLC increased its holdings in Prologis by 9.8% in the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 93 shares in the last quarter. Carmel Capital Partners LLC increased its holdings 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 valued at $473,000 after buying an additional 94 shares in the last quarter. Finally, Berkshire Bank increased its stake in shares of Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

NYSE:PLD opened at $121.21 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The firm has a market capitalization of $112.26 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.64 and a beta of 1.10. The company’s 50-day moving average is $111.98 and its two-hundred day moving average is $117.97. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.17%. Prologis’s payout ratio is 96.00%.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research reports. BMO Capital Markets cut 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 note on Friday, December 6th. BTIG Research cut their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Truist Financial boosted their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Wolfe Research cut their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Buying and Selling at Prologis

In other Prologis 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 value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by company 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.