Buckingham Capital Management Inc. Increases Stake in Prologis, Inc. (NYSE:PLD)

Buckingham Capital Management Inc. lifted its stake in Prologis, Inc. (NYSE:PLD) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,123 shares of the real estate investment trust’s stock after purchasing an additional 208 shares during the quarter. Buckingham Capital Management Inc.’s holdings in Prologis were worth $2,444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLD. AMF Tjanstepension AB raised its position in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the last quarter. Creative Planning raised its position in shares of Prologis by 18.3% in the 3rd quarter. Creative Planning now owns 100,154 shares of the real estate investment trust’s stock valued at $12,647,000 after purchasing an additional 15,510 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in shares of Prologis in the 3rd quarter valued at approximately $234,000. New Century Financial Group LLC raised its position in shares of Prologis by 3.3% in the 3rd quarter. New Century Financial Group LLC now owns 4,338 shares of the real estate investment trust’s stock valued at $548,000 after purchasing an additional 138 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management purchased a new position in shares of Prologis in the 3rd quarter valued at approximately $204,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Prologis Price Performance

Prologis stock opened at $120.84 on Tuesday. The company’s fifty day moving average price is $111.71 and its 200 day moving average price is $118.03. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The stock has a market capitalization of $111.92 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.18%. Prologis’s dividend payout ratio is currently 96.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PLD shares. JPMorgan Chase & Co. reduced their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Truist Financial raised their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Robert W. Baird raised their price target on shares of Prologis from $123.00 to $124.00 and gave the stock 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, Scotiabank reduced their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Company 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.