Easterly Investment Partners LLC Grows Stake in Prologis, Inc. (NYSE:PLD)

Easterly Investment Partners LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 632.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,104 shares of the real estate investment trust’s stock after purchasing an additional 116,656 shares during the quarter. Prologis comprises about 1.1% of Easterly Investment Partners LLC’s portfolio, making the stock its 19th biggest position. Easterly Investment Partners LLC’s holdings in Prologis were worth $14,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Empirical Asset Management LLC boosted its stake in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. lifted its stake in shares of Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Prologis by 29.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after acquiring an additional 179,880 shares during the period. Worldquant Millennium Advisors LLC purchased a new position in Prologis in the 3rd quarter worth $1,051,000. Finally, The Manufacturers Life Insurance Company lifted its position in Prologis by 1.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock worth $92,048,000 after acquiring an additional 9,147 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

Prologis stock opened at $111.07 on Thursday. The stock has a market cap of $102.94 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The firm has a 50 day simple moving average of $117.72 and a 200-day simple moving average of $116.63. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $132.57.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is 101.00%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wolfe Research dropped their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Truist Financial boosted their price target on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

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.