Beacon Harbor Wealth Advisors Inc. Has $6.67 Million Stake in Prologis, Inc. (NYSE:PLD)

Beacon Harbor Wealth Advisors Inc. increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,058 shares of the real estate investment trust’s stock after acquiring an additional 2,218 shares during the period. Prologis comprises about 1.6% of Beacon Harbor Wealth Advisors Inc.’s portfolio, making the stock its 25th largest position. Beacon Harbor Wealth Advisors Inc.’s holdings in Prologis were worth $6,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. Black Swift Group LLC bought a new position in Prologis in the fourth quarter valued at $967,000. Raymond James Financial Inc. bought a new position in Prologis in the fourth quarter valued at $254,876,000. Promus Capital LLC bought a new position in Prologis in the fourth quarter valued at $34,000. Arizona State Retirement System grew its position in Prologis by 0.7% in the fourth quarter. Arizona State Retirement System now owns 267,402 shares of the real estate investment trust’s stock valued at $28,264,000 after purchasing an additional 1,941 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its position in Prologis by 21.8% in the fourth quarter. Verdence Capital Advisors LLC now owns 12,523 shares of the real estate investment trust’s stock valued at $1,324,000 after purchasing an additional 2,240 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on PLD. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Barclays lifted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Wolfe Research decreased their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Scotiabank decreased their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

Shares of Prologis stock opened at $124.08 on Thursday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a 50-day simple moving average of $115.40 and a two-hundred day simple moving average of $118.03. The stock has a market capitalization of $115.00 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.26%. Prologis’s payout ratio is 101.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares in the company, valued at $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 is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.