Syntax Research Inc. Increases Position in Prologis, Inc. (NYSE:PLD)

Syntax Research Inc. boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 7.8% in the 4th quarter, Holdings Channel reports. The fund owned 34,064 shares of the real estate investment trust’s stock after acquiring an additional 2,462 shares during the quarter. Prologis accounts for 2.6% of Syntax Research Inc.’s holdings, making the stock its 11th largest holding. Syntax Research Inc.’s holdings in Prologis were worth $3,601,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLD. Principle Wealth Partners LLC grew its stake in shares of Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after buying an additional 92 shares during the period. Black Diamond Financial LLC lifted its holdings in Prologis by 2.2% during the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock worth $449,000 after buying an additional 93 shares in the last quarter. Berkshire Bank lifted its holdings in Prologis by 2.3% during the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after buying an additional 95 shares in the last quarter. J.Safra Asset Management Corp lifted its holdings in Prologis by 22.3% during the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 102 shares in the last quarter. Finally, Bridgewater Associates LP lifted its holdings in Prologis by 4.0% during the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock worth $338,000 after buying an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PLD shares. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Truist Financial increased their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Price Performance

Shares of NYSE:PLD opened at $108.27 on Monday. The firm has a market capitalization of $100.35 billion, a P/E ratio of 27.07, a P/E/G ratio of 2.70 and a beta of 1.09. The company’s fifty day moving average price is $117.54 and its 200 day moving average price is $116.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.73%. Prologis’s payout ratio is presently 101.00%.

Insider Activity

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 value of $1,305,783.78. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.