Alley Investment Management Company LLC Buys 2,664 Shares of Prologis, Inc. (NYSE:PLD)

Alley Investment Management Company LLC grew its stake in Prologis, Inc. (NYSE:PLD) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,421 shares of the real estate investment trust’s stock after purchasing an additional 2,664 shares during the quarter. Alley Investment Management Company LLC’s holdings in Prologis were worth $5,647,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. ASB Consultores LLC raised its holdings in Prologis by 3.7% during the 3rd 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 during the last quarter. Principle Wealth Partners LLC raised its holdings in Prologis by 2.9% during the 4th 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 during the last quarter. Black Diamond Financial LLC increased its stake in shares of Prologis by 2.2% in 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 acquiring an additional 93 shares in the last quarter. Carmel Capital Partners LLC increased its stake in shares of Prologis by 2.6% in 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 acquiring an additional 94 shares in the last quarter. Finally, Berkshire Bank increased its stake in shares of Prologis by 2.3% in the 4th 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. 93.50% of the stock is owned by institutional investors.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Mizuho reduced their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BTIG Research cut their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, Wolfe Research cut their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Trading Down 0.4 %

Shares of Prologis stock opened at $123.48 on Tuesday. The stock’s 50-day simple moving average is $114.66 and its 200 day simple moving average is $118.00. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The stock has a market capitalization of $114.45 billion, a P/E ratio of 30.87, a P/E/G ratio of 2.70 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 0.75.

Prologis Increases Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.27%. Prologis’s dividend payout ratio is currently 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.