10,783 Shares in Prologis, Inc. (NYSE:PLD) Acquired by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,783 shares of the real estate investment trust’s stock, valued at approximately $1,140,000.

Other hedge funds have also made changes to their positions in the company. Coronation Fund Managers Ltd. bought a new position in Prologis in the second quarter worth about $878,000. Gabelli Funds LLC raised its stake in Prologis by 3.6% in the 2nd quarter. Gabelli Funds LLC now owns 3,205 shares of the real estate investment trust’s stock worth $360,000 after acquiring an additional 110 shares during the last quarter. Marshall Wace LLP acquired a new stake in Prologis during the 2nd quarter worth about $12,946,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis during the 2nd quarter valued at about $27,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Prologis by 60.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 177,184 shares of the real estate investment trust’s stock worth $19,900,000 after purchasing an additional 66,498 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PLD. Raymond James reissued an “outperform” rating and set a $125.00 target price (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Truist Financial lowered their price target on Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. dropped their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $124.00 to $123.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $128.67.

Prologis Price Performance

Prologis stock opened at $115.16 on Thursday. The business has a 50 day simple moving average of $110.31 and a 200-day simple moving average of $118.33. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $106.66 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 3.25 and a beta of 1.09.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.33%. Prologis’s dividend payout ratio is currently 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.