Cookson Peirce & Co. Inc. Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

Cookson Peirce & Co. Inc. grew its stake in Prologis, Inc. (NYSE:PLD) by 13.3% during the 4th quarter, Holdings Channel reports. The fund owned 4,485 shares of the real estate investment trust’s stock after acquiring an additional 526 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Prologis were worth $474,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PLD. Principle Wealth Partners LLC grew its stake in shares of 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. Black Diamond Financial LLC grew its stake in Prologis by 2.2% during the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 93 shares in the last quarter. Carmel Capital Partners LLC grew its stake in Prologis by 2.6% during the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 94 shares in the last quarter. Berkshire Bank grew its stake in Prologis by 2.3% during the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares in the last quarter. Finally, Bridgewater Associates LP grew its stake in Prologis by 4.0% during the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock valued at $338,000 after purchasing an additional 103 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’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 completion of the transaction, 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 document filed with the SEC, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Scotiabank lowered their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. Barclays raised their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. UBS Group raised their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Finally, Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Performance

NYSE:PLD opened at $124.08 on Thursday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $115.40 and a 200-day moving average of $118.03. The firm has a market cap of $115.00 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.26%. Prologis’s dividend payout ratio (DPR) is 101.00%.

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.