Klingenstein Fields & Co. LP Acquires 1,896 Shares of Prologis, Inc. (NYSE:PLD)

Klingenstein Fields & Co. LP raised its position in shares of Prologis, Inc. (NYSE:PLD) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 189,567 shares of the real estate investment trust’s stock after acquiring an additional 1,896 shares during the period. Klingenstein Fields & Co. LP’s holdings in Prologis were worth $20,037,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Dunhill Financial LLC boosted 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 acquiring an additional 182 shares during the period. Hara Capital LLC bought a new stake in shares of Prologis in the third quarter valued at approximately $48,000. Coastline Trust Co bought a new stake in shares of Prologis in the third quarter valued at approximately $52,000. Fortitude Family Office LLC boosted its stake in shares of Prologis by 120.6% in the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 240 shares during the period. Finally, Asset Planning Inc bought a new stake in shares of Prologis in the fourth quarter valued at approximately $53,000. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD stock opened at $121.07 on Friday. The stock has a market capitalization of $112.13 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. The company’s 50-day moving average is $111.39 and its 200-day moving average is $118.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.17%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada boosted their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. BTIG Research lowered their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Scotiabank reduced their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Finally, Robert W. Baird boosted their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by company insiders.

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.