Concurrent Investment Advisors LLC Acquires 2,951 Shares of Prologis, Inc. (NYSE:PLD)

Concurrent Investment Advisors LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 24.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,259 shares of the real estate investment trust’s stock after acquiring an additional 2,951 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Prologis were worth $1,613,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Dunhill Financial LLC raised its holdings in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares in the last quarter. Hara Capital LLC purchased a new position in shares of Prologis during the 3rd quarter valued at about $48,000. Coastline Trust Co purchased a new position in shares of Prologis during the 3rd quarter valued at about $52,000. Asset Planning Inc purchased a new position in shares of Prologis during the 4th quarter valued at about $53,000. Finally, Fortitude Family Office LLC raised its holdings in shares of Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 240 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD stock opened at $121.01 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The firm has a market cap of $112.16 billion, a P/E ratio of 30.25, a P/E/G ratio of 2.70 and a beta of 1.10. The business’s 50 day moving average price is $112.56 and its 200-day moving average price is $118.01.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is 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 3.34%. Prologis’s payout ratio is currently 96.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred 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 directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PLD. BTIG Research decreased their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Truist Financial lifted their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. UBS Group lifted their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis 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.