EntryPoint Capital LLC Increases Position in Prologis, Inc. (NYSE:PLD)

EntryPoint Capital LLC raised its position in shares of Prologis, Inc. (NYSE:PLD) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,230 shares of the real estate investment trust’s stock after purchasing an additional 258 shares during the period. EntryPoint Capital LLC’s holdings in Prologis were worth $341,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Syntax Research Inc. raised its holdings in shares of Prologis by 7.8% during the 4th quarter. Syntax Research Inc. now owns 34,064 shares of the real estate investment trust’s stock valued at $3,601,000 after buying an additional 2,462 shares in the last quarter. Congress Wealth Management LLC DE raised its stake in shares of Prologis by 7.4% during the fourth quarter. Congress Wealth Management LLC DE now owns 20,930 shares of the real estate investment trust’s stock worth $2,212,000 after acquiring an additional 1,449 shares in the last quarter. Cannon Global Investment Management LLC bought a new stake in shares of Prologis in the 4th quarter worth approximately $613,000. Crowley Wealth Management Inc. bought a new stake in shares of Prologis in the 4th quarter worth approximately $27,000. Finally, LPL Financial LLC boosted its stake in shares of Prologis by 16.8% in the 4th quarter. LPL Financial LLC now owns 951,459 shares of the real estate investment trust’s stock valued at $100,569,000 after purchasing an additional 136,545 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PLD has been the subject of several recent research reports. Royal Bank of Canada boosted their price target 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. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. BTIG Research dropped their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Truist Financial lifted their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

Shares of PLD opened at $111.07 on Thursday. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The company has a 50-day simple moving average of $117.72 and a two-hundred day simple moving average of $116.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The firm has a market capitalization of $102.94 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

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 dividend on an annualized basis and a dividend yield of 3.64%. 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 presently 101.00%.

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.