Easterly Investment Partners LLC Raises Holdings in Prologis, Inc. (NYSE:PLD)

Easterly Investment Partners LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 632.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,104 shares of the real estate investment trust’s stock after purchasing an additional 116,656 shares during the quarter. Prologis accounts for about 1.1% of Easterly Investment Partners LLC’s investment portfolio, making the stock its 19th biggest holding. Easterly Investment Partners LLC’s holdings in Prologis were worth $14,280,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLD. Norges Bank purchased a new position in Prologis in the 4th quarter worth about $951,263,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Raymond James Financial Inc. bought a new position in Prologis during the fourth quarter valued at approximately $254,876,000. Janus Henderson Group PLC boosted its holdings in Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after purchasing an additional 2,138,693 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Prologis by 395.3% in the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after purchasing an additional 829,504 shares during the period. 93.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PLD has been the topic of a number of research reports. Robert W. Baird raised their price target on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Scotiabank cut their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. Wolfe Research lowered their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Price Performance

Shares of PLD stock opened at $111.07 on Thursday. The stock has a 50 day moving average price of $117.72 and a 200 day moving average price of $116.63. The firm has a market capitalization of $102.94 billion, a P/E ratio of 27.77, a P/E/G 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. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57.

Prologis Increases Dividend

The business also recently disclosed 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. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.64%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

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.