Murphy & Mullick Capital Management Corp Invests $26,000 in Prologis, Inc. (NYSE:PLD)

Murphy & Mullick Capital Management Corp acquired a new stake in Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 245 shares of the real estate investment trust’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new stake in Prologis during the fourth quarter worth $27,000. Centricity Wealth Management LLC acquired a new stake in shares of Prologis during the 4th quarter worth about $30,000. Dunhill Financial LLC raised its holdings in Prologis by 239.5% in 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 during the period. Whipplewood Advisors LLC acquired a new position in Prologis in the fourth quarter valued at about $34,000. Finally, Promus Capital LLC purchased a new position in Prologis during the fourth quarter worth about $34,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by company insiders.

Prologis Price Performance

Prologis stock opened at $110.37 on Friday. The stock has a market cap of $102.29 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a fifty day simple moving average of $117.74 and a 200-day simple moving average of $116.45. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.66%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is presently 101.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PLD shares. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Truist Financial boosted their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada lifted their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Robert W. Baird increased their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis currently has an average 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.