12,918 Shares in Prologis, Inc. (NYSE:PLD) Bought by Mirabella Financial Services LLP

Mirabella Financial Services LLP acquired a new stake in Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,918 shares of the real estate investment trust’s stock, valued at approximately $1,365,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. MYDA Advisors LLC lifted its position in Prologis by 98.5% during the 4th quarter. MYDA Advisors LLC now owns 138,933 shares of the real estate investment trust’s stock worth $14,685,000 after acquiring an additional 68,933 shares in the last quarter. MetLife Investment Management LLC grew its position in Prologis by 1.3% in the fourth quarter. MetLife Investment Management LLC now owns 272,299 shares of the real estate investment trust’s stock valued at $28,782,000 after acquiring an additional 3,468 shares in the last quarter. Natixis raised its stake in shares of Prologis by 3.8% during the fourth quarter. Natixis now owns 589,347 shares of the real estate investment trust’s stock valued at $62,294,000 after purchasing an additional 21,348 shares during the period. Norinchukin Bank The lifted its position in shares of Prologis by 4.0% during the fourth quarter. Norinchukin Bank The now owns 83,876 shares of the real estate investment trust’s stock worth $8,866,000 after purchasing an additional 3,228 shares in the last quarter. Finally, Ossiam boosted its stake in shares of Prologis by 6.2% in the fourth quarter. Ossiam now owns 39,419 shares of the real estate investment trust’s stock valued at $4,167,000 after purchasing an additional 2,309 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is currently owned by insiders.

Prologis Stock Performance

Shares of NYSE PLD opened at $101.89 on Monday. The stock has a market capitalization of $94.45 billion, a P/E ratio of 25.47, a P/E/G ratio of 2.70 and a beta of 1.20. The firm’s 50-day moving average price is $111.44 and its two-hundred day moving average price is $113.13. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is 101.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Mizuho dropped their price target on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. BMO Capital Markets cut their price target on Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Scotiabank reissued a “sector underperform” rating and issued a $97.00 price target (down previously from $133.00) on shares of Prologis in a report on Monday, April 7th. Truist Financial lifted their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Royal Bank of Canada increased their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.32.

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.