Y Intercept Hong Kong Ltd Has $4.86 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Y Intercept Hong Kong Ltd increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 30.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 45,977 shares of the real estate investment trust’s stock after buying an additional 10,719 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Prologis were worth $4,860,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Black Diamond Financial LLC grew its holdings in shares of Prologis by 2.2% during the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock worth $449,000 after purchasing an additional 93 shares during the last quarter. Atlantic Family Wealth LLC acquired a new stake in Prologis in the fourth quarter valued at $201,000. MONECO Advisors LLC increased its stake in shares of Prologis by 8.3% in the fourth quarter. MONECO Advisors LLC now owns 8,659 shares of the real estate investment trust’s stock valued at $915,000 after buying an additional 661 shares during the period. Howard Capital Management Inc. increased its position in shares of Prologis by 5.8% during the fourth quarter. Howard Capital Management Inc. now owns 6,294 shares of the real estate investment trust’s stock worth $665,000 after buying an additional 346 shares during the period. Finally, Sigma Planning Corp grew its holdings in Prologis by 14.5% during the 4th quarter. Sigma Planning Corp now owns 8,940 shares of the real estate investment trust’s stock worth $945,000 after acquiring an additional 1,131 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PLD shares. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Mizuho reduced their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Wolfe Research dropped their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

Shares of PLD opened at $121.01 on Monday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The firm’s 50-day simple moving average is $112.56 and its two-hundred day simple moving average is $117.99. The stock has a market cap of $112.16 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is 96.00%.

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.