Headland Capital LLC Purchases New Holdings in Prologis, Inc. (NYSE:PLD)

Headland Capital LLC purchased a new stake in Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 41,506 shares of the real estate investment trust’s stock, valued at approximately $4,387,000. Prologis makes up about 1.5% of Headland Capital LLC’s portfolio, making the stock its 19th biggest position.

Several other hedge funds have also made changes to their positions in the company. Phoenix Financial Ltd. boosted its stake in Prologis by 1.0% during the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock worth $955,000 after buying an additional 86 shares in the last quarter. Principle Wealth Partners LLC boosted its stake in shares of Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after purchasing an additional 92 shares in the last quarter. Black Diamond Financial LLC boosted its stake in shares of Prologis by 2.2% in the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 93 shares in the last quarter. Berkshire Bank boosted its stake in shares of Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its stake in shares of Prologis by 1.7% in the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust’s stock valued at $642,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PLD shares. Royal Bank of Canada reduced their target price on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. BTIG Research reduced their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Truist Financial boosted their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Scotiabank reiterated a “sector underperform” rating and set a $97.00 price target (down previously from $133.00) on shares of Prologis in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.74.

Prologis Price Performance

Prologis stock opened at $103.17 on Wednesday. The firm has a market capitalization of $95.63 billion, a P/E ratio of 25.79, a PEG ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The business has a 50-day moving average of $108.76 and a 200-day moving average of $112.29. 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 (NYSE:PLD) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given 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 dividend yield of 3.92%. Prologis’s payout ratio is currently 101.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is owned by insiders.

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.