HUB Investment Partners LLC Boosts Holdings in Prologis, Inc. (NYSE:PLD)

HUB Investment Partners LLC raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 10.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 55,358 shares of the real estate investment trust’s stock after purchasing an additional 5,235 shares during the period. HUB Investment Partners LLC’s holdings in Prologis were worth $5,851,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PLD. Dunhill Financial LLC grew its holdings in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Prologis during the fourth quarter worth about $30,000. Promus Capital LLC purchased a new stake in shares of Prologis during the fourth quarter worth about $34,000. Whipplewood Advisors LLC purchased a new stake in shares of Prologis during the fourth quarter worth about $34,000. Finally, Asset Planning Inc purchased a new stake in shares of Prologis during the fourth quarter worth about $53,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’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 trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PLD. Truist Financial lifted their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Wolfe Research cut their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Royal Bank of Canada lifted their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Finally, BTIG Research dropped their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. One research 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 company’s stock. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Up 0.6 %

Shares of NYSE PLD opened at $113.03 on Thursday. The firm has a market cap of $104.77 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock’s 50-day simple moving average is $117.31 and its 200-day simple moving average is $117.25.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.57%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is 101.00%.

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.