Gladstone Institutional Advisory LLC Purchases 1,062 Shares of Prologis, Inc. (NYSE:PLD)

Gladstone Institutional Advisory LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 26.4% during the 4th quarter, Holdings Channel reports. The fund owned 5,090 shares of the real estate investment trust’s stock after buying an additional 1,062 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Prologis were worth $538,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp boosted its stake in Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after acquiring an additional 767,609 shares during the last quarter. Geode Capital Management LLC raised its holdings in Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after buying an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Prologis by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after buying an additional 441,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares during the period. Finally, Swedbank AB raised its holdings in Prologis by 1.8% during the 4th quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock worth $486,514,000 after buying an additional 80,575 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD opened at $120.84 on Friday. The company has a market cap of $111.92 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The company’s fifty day simple moving average is $111.53 and its 200 day simple moving average is $118.17. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.18%. Prologis’s dividend payout ratio (DPR) is 96.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of several research analyst reports. BTIG Research dropped their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Mizuho dropped their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Scotiabank dropped their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Royal Bank of Canada lifted their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Finally, Barclays lifted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One 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 given a strong buy rating to the company. According to data from MarketBeat, Prologis currently 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.