Mogy Joel R Investment Counsel Inc. Has $10.05 Million Stake in Prologis, Inc. (NYSE:PLD)

Mogy Joel R Investment Counsel Inc. decreased its holdings in Prologis, Inc. (NYSE:PLD) by 6.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,381 shares of the real estate investment trust’s stock after selling 5,488 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in Prologis were worth $10,048,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PLD. Thompson Investment Management Inc. acquired a new stake in Prologis in the 4th quarter worth about $28,000. FinTrust Capital Advisors LLC raised its stake in Prologis by 966.7% in 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 in the last quarter. Salem Investment Counselors Inc. acquired a new stake in Prologis in the 4th quarter worth about $37,000. FNY Investment Advisers LLC acquired a new stake in Prologis in the 4th quarter worth about $39,000. Finally, Valley National Advisers Inc. raised its stake in Prologis by 178.6% in the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 0.7 %

PLD traded up $0.71 during trading on Friday, reaching $104.06. 4,037,744 shares of the company’s stock were exchanged, 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 has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $96.26 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 2.15 and a beta of 1.00. The firm has a fifty day moving average price of $125.06 and a two-hundred day moving average price of $121.86.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.69%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is presently 112.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Mizuho restated a “neutral” rating and issued a $130.00 target price on shares of Prologis in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday. Raymond James boosted their target price on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. StockNews.com cut shares of Prologis from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, UBS Group dropped their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.