Spinnaker Trust Buys 1,971 Shares of Prologis, Inc. (NYSE:PLD)

Spinnaker Trust lifted its stake in Prologis, Inc. (NYSE:PLD) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,643 shares of the real estate investment trust’s stock after buying an additional 1,971 shares during the period. Spinnaker Trust’s holdings in Prologis were worth $5,247,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PLD. ASB Consultores LLC lifted its stake in Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 86 shares during the period. CX Institutional lifted its stake in Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares during the period. Principle Wealth Partners LLC lifted its stake in Prologis by 2.9% during the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after purchasing an additional 92 shares during the period. DT Investment Partners LLC lifted its stake in Prologis by 9.8% during the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 93 shares during the period. Finally, Carmel Capital Partners LLC lifted its stake in Prologis by 2.6% during the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after purchasing an additional 94 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock opened at $120.84 on Friday. The firm has a 50 day simple moving average of $111.53 and a 200 day simple moving average of $118.17. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The firm has a market cap of $111.92 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.64 and a beta of 1.10.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is presently 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Robert W. Baird raised their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. 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. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, Royal Bank of Canada lifted their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Company 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.