Murphy & Mullick Capital Management Corp Buys New Position in Prologis, Inc. (NYSE:PLD)

Murphy & Mullick Capital Management Corp purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 245 shares of the real estate investment trust’s stock, valued at approximately $26,000.

A number of other institutional investors and hedge funds 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 during the last quarter. Crowley Wealth Management Inc. acquired a new stake in Prologis during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new position in Prologis in the 4th quarter valued at $30,000. Promus Capital LLC acquired a new position in Prologis in the 4th quarter valued at $34,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Prologis in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $110.37 on Friday. 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 firm has a market capitalization of $102.29 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The company has a 50 day moving average price of $117.74 and a 200 day moving average price of $116.45.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.66%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio is presently 101.00%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Wolfe Research lowered their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. BTIG Research lowered their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.