Intact Investment Management Inc. Has $7.72 Million Stake in Prologis, Inc. (NYSE:PLD)

Intact Investment Management Inc. grew its holdings in Prologis, Inc. (NYSE:PLD) by 57.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,900 shares of the real estate investment trust’s stock after buying an additional 21,200 shares during the period. Intact Investment Management Inc.’s holdings in Prologis were worth $7,718,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Thompson Investment Management Inc. acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $28,000. FinTrust Capital Advisors LLC lifted its holdings in Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 232 shares during the last quarter. Salem Investment Counselors Inc. acquired a new stake in Prologis during the 4th quarter worth approximately $37,000. FNY Investment Advisers LLC acquired a new stake in Prologis during the 4th quarter worth approximately $39,000. Finally, Webster Bank N. A. lifted its holdings in Prologis by 3,600.0% during the 4th quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 324 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of PLD traded up $0.71 during midday trading on Friday, hitting $104.06. The company’s stock had a trading volume of 4,037,744 shares, compared to its average volume of 4,340,292. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company’s fifty day simple moving average is $125.06 and its two-hundred day simple moving average is $121.86. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $96.26 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 2.15 and a beta of 1.00.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.69%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PLD shares. Evercore ISI dropped their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday, April 18th. The Goldman Sachs Group dropped their price target on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 22nd. StockNews.com cut Prologis from a “hold” rating to a “sell” rating in a report on Wednesday. Barclays lowered their price objective on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Finally, TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.24.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.