Mirabella Financial Services LLP Buys Shares of 12,918 Prologis, Inc. (NYSE:PLD)

Mirabella Financial Services LLP acquired a new stake in Prologis, Inc. (NYSE:PLD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,918 shares of the real estate investment trust's stock, valued at approximately $1,365,000.

A number of other institutional investors also recently modified their holdings of PLD. MYDA Advisors LLC grew its stake in shares of Prologis by 98.5% in the 4th quarter. MYDA Advisors LLC now owns 138,933 shares of the real estate investment trust's stock valued at $14,685,000 after purchasing an additional 68,933 shares during the period. MetLife Investment Management LLC lifted its position in Prologis by 1.3% during the 4th quarter. MetLife Investment Management LLC now owns 272,299 shares of the real estate investment trust's stock worth $28,782,000 after buying an additional 3,468 shares in the last quarter. Natixis grew its stake in shares of Prologis by 3.8% during the fourth quarter. Natixis now owns 589,347 shares of the real estate investment trust's stock valued at $62,294,000 after purchasing an additional 21,348 shares during the last quarter. Norinchukin Bank The boosted its position in Prologis by 4.0% in the 4th quarter. Norinchukin Bank The now owns 83,876 shares of the real estate investment trust's stock valued at $8,866,000 after buying an additional 3,228 shares during the last quarter. Finally, Ossiam increased its position in Prologis by 6.2% in the fourth quarter. Ossiam now owns 39,419 shares of the real estate investment trust's stock worth $4,167,000 after purchasing an additional 2,309 shares during the period. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLD. UBS Group upped their price target on Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. CJS Securities decreased their price objective on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. BNP Paribas raised shares of Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Wolfe Research cut shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Finally, Robert W. Baird boosted their price target on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $123.32.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated 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 transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Prologis Price Performance

NYSE PLD traded down $1.05 during trading hours on Friday, hitting $102.31. The company had a trading volume of 2,828,184 shares, compared to its average volume of 4,148,129. The firm has a 50 day simple moving average of $109.48 and a 200 day simple moving average of $112.56. 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 firm has a market capitalization of $94.84 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a $1.01 dividend. The ex-dividend date was Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.95%. Prologis's dividend payout ratio (DPR) is 101.00%.

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.