Meridian Wealth Management LLC Buys 209 Shares of Prologis, Inc. (NYSE:PLD)

Meridian Wealth Management LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,897 shares of the real estate investment trust’s stock after purchasing an additional 209 shares during the period. Meridian Wealth Management LLC’s holdings in Prologis were worth $412,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after acquiring an additional 2,138,693 shares during the last quarter. Cardano Risk Management B.V. bought a new stake in shares of Prologis during the 3rd quarter valued at $109,579,000. Jennison Associates LLC raised its position in shares of Prologis by 395.3% during the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock valued at $109,858,000 after acquiring an additional 829,504 shares during the last quarter. Finally, State Street Corp raised its position in shares of Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after acquiring an additional 767,609 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $124.08 on Thursday. The firm has a market cap of $115.00 billion, a PE ratio of 31.02, a PEG ratio of 2.70 and a beta of 1.09. 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, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a fifty day moving average price of $115.40 and a 200 day moving average price of $118.03.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.26%. Prologis’s dividend payout ratio is presently 101.00%.

Analyst Ratings Changes

Several analysts have commented on the stock. BTIG Research dropped their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Wolfe Research dropped their target price 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, Truist Financial upped their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $128.78.

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.