Carmel Capital Partners LLC Purchases 224 Shares of Prologis, Inc. (NYSE:PLD)

Carmel Capital Partners LLC boosted its position in Prologis, Inc. (NYSE:PLD) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,973 shares of the real estate investment trust’s stock after acquiring an additional 224 shares during the period. Carmel Capital Partners LLC’s holdings in Prologis were worth $420,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC boosted its holdings in 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. Centricity Wealth Management LLC bought a new position in Prologis during the fourth quarter worth about $30,000. Promus Capital LLC bought a new position in Prologis during the fourth quarter worth about $34,000. Whipplewood Advisors LLC bought a new position in Prologis during the fourth quarter worth about $34,000. Finally, Hara Capital LLC bought a new position in Prologis during the third quarter worth about $48,000. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the topic of a number of recent analyst reports. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. BTIG Research reduced 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. Scotiabank dropped their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Royal Bank of Canada raised their price target on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Up 1.9 %

Shares of Prologis stock opened at $124.08 on Thursday. The firm has a market cap of $115.00 billion, a PE ratio of 31.02, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The business’s 50 day simple moving average is $115.40 and its 200 day simple moving average is $118.03. 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.26%. Prologis’s payout ratio is 101.00%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s 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 completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Prologis Company 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.