Klingenstein Fields & Co. LP Raises Position in Prologis, Inc. (NYSE:PLD)

Klingenstein Fields & Co. LP lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,567 shares of the real estate investment trust’s stock after purchasing an additional 1,896 shares during the period. Klingenstein Fields & Co. LP’s holdings in Prologis were worth $20,037,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Dunhill Financial LLC increased its stake in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of Prologis during the 3rd quarter worth approximately $48,000. Coastline Trust Co purchased a new stake in shares of Prologis during the 3rd quarter worth approximately $52,000. Fortitude Family Office LLC increased its stake in shares of Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in shares of Prologis during the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. BTIG Research cut their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Wolfe Research cut their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Scotiabank cut their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Truist Financial raised their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Robert W. Baird raised their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Price Performance

PLD stock opened at $121.07 on Friday. The firm’s 50-day moving average price is $111.39 and its two-hundred day moving average price is $118.15. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The stock has a market capitalization of $112.13 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 2.64 and a beta of 1.10. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 96.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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.