Principle Wealth Partners LLC Has $349,000 Position in Prologis, Inc. (NYSE:PLD)

Principle Wealth Partners LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 2.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,302 shares of the real estate investment trust’s stock after purchasing an additional 92 shares during the quarter. Principle Wealth Partners LLC’s holdings in Prologis were worth $349,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Dunhill Financial LLC lifted its holdings in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the last quarter. Hara Capital LLC acquired a new position in shares of Prologis during the third quarter worth approximately $48,000. Coastline Trust Co acquired a new position in shares of Prologis during the third quarter worth approximately $52,000. Fortitude Family Office LLC lifted its holdings in shares of Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 240 shares during the last quarter. Finally, Hanson & Doremus Investment Management lifted its holdings in shares of Prologis by 42.2% during the fourth quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 185 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of NYSE:PLD opened at $121.76 on Wednesday. The business’s fifty day moving average price is $111.19 and its two-hundred day moving average price is $118.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The stock has a market capitalization of $112.77 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is presently 96.00%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Wolfe Research lowered their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Royal Bank of Canada boosted their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $128.78.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The stock was 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 in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.56% of the company’s stock.

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.