Tortoise Investment Management LLC Buys 252 Shares of Prologis, Inc. (NYSE:PLD)

Tortoise Investment Management LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 22.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,391 shares of the real estate investment trust’s stock after acquiring an additional 252 shares during the period. Tortoise Investment Management LLC’s holdings in Prologis were worth $147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Centricity Wealth Management LLC purchased a new stake in shares of Prologis during the 4th quarter valued at approximately $30,000. Dunhill Financial LLC lifted its stake in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Prologis during the 4th quarter valued at approximately $34,000. Promus Capital LLC purchased a new stake in shares of Prologis during the 4th quarter valued at approximately $34,000. Finally, Coastline Trust Co purchased a new stake in shares of Prologis during the 3rd quarter valued at approximately $52,000. 93.50% of the stock is owned by institutional investors.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by insiders.

Prologis Stock Performance

Prologis stock opened at $117.97 on Tuesday. 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, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The firm’s fifty day moving average price is $116.22 and its 200-day moving average price is $117.87. The stock has a market cap of $109.34 billion, a P/E ratio of 29.49, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.42%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PLD shares. Scotiabank dropped their price target 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. Mizuho dropped their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada increased their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Robert W. Baird increased their target price 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. Finally, BTIG Research lowered their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” 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 assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

About Prologis

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.