EntryPoint Capital LLC Grows Stake in Prologis, Inc. (NYSE:PLD)

EntryPoint Capital LLC lifted its stake in Prologis, Inc. (NYSE:PLD) by 8.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,230 shares of the real estate investment trust’s stock after buying an additional 258 shares during the quarter. EntryPoint Capital LLC’s holdings in Prologis were worth $341,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its position in shares of Prologis by 1.4% during the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after acquiring an additional 767,609 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after purchasing an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Prologis by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock valued at $1,099,569,000 after buying an additional 173,531 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Prologis by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock worth $631,266,000 after buying an additional 32,644 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In other 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 transaction of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

Prologis Stock Performance

NYSE:PLD opened at $111.07 on Thursday. The stock has a 50-day moving average price of $117.72 and a 200 day moving average price of $116.63. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. The stock has a market capitalization of $102.94 billion, a P/E ratio of 27.77, a P/E/G ratio of 2.70 and a beta of 1.09.

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 given a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is currently 101.00%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PLD. UBS Group boosted their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada upped their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Truist Financial increased their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Mizuho decreased their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

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.