2,499 Shares in Prologis, Inc. (NYSE:PLD) Bought by Malaga Cove Capital LLC

Malaga Cove Capital LLC acquired a new stake in Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,499 shares of the real estate investment trust’s stock, valued at approximately $333,000.

Other large investors also recently modified their holdings of the company. Thompson Investment Management Inc. bought a new stake in shares of Prologis in the 4th quarter valued at approximately $28,000. FinTrust Capital Advisors LLC boosted its position in Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 232 shares during the period. Salem Investment Counselors Inc. acquired a new stake in Prologis in the fourth quarter worth $37,000. FNY Investment Advisers LLC bought a new stake in Prologis in the fourth quarter valued at $39,000. Finally, Valley National Advisers Inc. boosted its holdings in shares of Prologis by 178.6% during the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 250 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 1.3 %

Shares of NYSE PLD traded up $1.36 during mid-day trading on Friday, reaching $105.89. The company had a trading volume of 3,517,673 shares, compared to its average volume of 4,890,799. The stock has a fifty day moving average of $122.66 and a two-hundred day moving average of $121.66. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a market capitalization of $98.04 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 2.17 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.63%. Prologis’s dividend payout ratio is 112.28%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. JPMorgan Chase & Co. cut their price objective on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Raymond James upped their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. StockNews.com cut Prologis from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Finally, Morgan Stanley increased their price target on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.35.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.