Catalyst Funds Management Pty Ltd Acquires 19,300 Shares of Prologis, Inc. (NYSE:PLD)

Catalyst Funds Management Pty Ltd boosted its holdings in Prologis, Inc. (NYSE:PLD) by 438.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 23,700 shares of the real estate investment trust’s stock after purchasing an additional 19,300 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Prologis were worth $2,505,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PLD. Harbour Investments Inc. lifted its position in Prologis by 13.2% in the 3rd quarter. Harbour Investments Inc. now owns 3,114 shares of the real estate investment trust’s stock valued at $393,000 after acquiring an additional 364 shares in the last quarter. ING Groep NV lifted its position in shares of Prologis by 1.1% during the 3rd quarter. ING Groep NV now owns 125,047 shares of the real estate investment trust’s stock worth $15,791,000 after buying an additional 1,378 shares in the last quarter. Balboa Wealth Partners bought a new position in shares of Prologis during the 3rd quarter worth approximately $262,000. CIBC Asset Management Inc lifted its position in shares of Prologis by 11.3% during the 3rd quarter. CIBC Asset Management Inc now owns 187,992 shares of the real estate investment trust’s stock worth $23,740,000 after buying an additional 19,029 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC lifted its position in shares of Prologis by 5.0% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 183,424 shares of the real estate investment trust’s stock worth $23,163,000 after buying an additional 8,766 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the topic of several recent analyst reports. Wolfe Research dropped their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada lifted their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. 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 research report on Wednesday, January 8th. Finally, Barclays raised their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Up 1.5 %

Prologis stock opened at $111.98 on Friday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $132.57. The firm has a market capitalization of $103.79 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.70 and a beta of 1.09. 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 firm has a 50 day simple moving average of $116.89 and a 200 day simple moving average of $117.61.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.61%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is currently 101.00%.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s 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 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 Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

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.