HUB Investment Partners LLC Increases Stake in Prologis, Inc. (NYSE:PLD)

HUB Investment Partners LLC increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 10.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,358 shares of the real estate investment trust’s stock after buying an additional 5,235 shares during the period. HUB Investment Partners LLC’s holdings in Prologis were worth $5,851,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PLD. Centricity Wealth Management LLC purchased a new stake in Prologis during the 4th quarter worth approximately $30,000. Dunhill Financial LLC grew its holdings in Prologis by 239.5% during the 3rd 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 in the last quarter. Whipplewood Advisors LLC acquired a new position in Prologis during the 4th quarter worth approximately $34,000. Promus Capital LLC acquired a new position in Prologis during the 4th quarter worth approximately $34,000. Finally, Asset Planning Inc acquired a new position in Prologis during the 4th quarter worth approximately $53,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 0.6 %

PLD stock opened at $113.03 on Thursday. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The stock has a market capitalization of $104.77 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a fifty day moving average of $117.31 and a 200-day moving average of $117.25.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is 101.00%.

Insider Transactions at Prologis

In other 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 completion of the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Mizuho lowered their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Truist Financial upped their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Robert W. Baird increased their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

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.