Prologis, Inc. (NYSE:PLD) Shares Acquired by Buckingham Capital Management Inc.

Buckingham Capital Management Inc. lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,123 shares of the real estate investment trust’s stock after purchasing an additional 208 shares during the quarter. Buckingham Capital Management Inc.’s holdings in Prologis were worth $2,444,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. ASB Consultores LLC lifted its position in shares of 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 in the last quarter. Principle Wealth Partners LLC lifted its position in shares of 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 in the last quarter. DT Investment Partners LLC raised its holdings in Prologis by 9.8% in the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 93 shares in the last quarter. Carmel Capital Partners LLC raised its holdings in Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after acquiring an additional 94 shares in the last quarter. Finally, Berkshire Bank raised its holdings in Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of several analyst reports. Robert W. Baird raised their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $120.00 to $104.00 in a report on Friday, December 6th. Mizuho reduced their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Scotiabank dropped their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Finally, Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. One 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 stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Price Performance

Prologis stock opened at $120.84 on Tuesday. The company has a market cap of $111.92 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The business has a fifty day moving average of $111.71 and a two-hundred day moving average of $118.03.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on Wednesday, February 5th. The stock was 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 of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

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.