Steward Partners Investment Advisory LLC Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Steward Partners Investment Advisory LLC lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,576 shares of the real estate investment trust’s stock after buying an additional 1,723 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Prologis were worth $3,126,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Centricity Wealth Management LLC acquired a new stake in Prologis during the fourth quarter worth about $30,000. Dunhill Financial LLC grew 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 worth $33,000 after purchasing an additional 182 shares during the period. Whipplewood Advisors LLC acquired a new stake in Prologis during the 4th quarter worth approximately $34,000. Hara Capital LLC purchased a new position in Prologis in the third quarter valued at approximately $48,000. Finally, Coastline Trust Co acquired a new position in Prologis during the third quarter valued at approximately $52,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other 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 value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PLD shares. BTIG Research dropped their price objective 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. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Mizuho cut 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. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, Scotiabank lowered their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Price Performance

PLD opened at $119.89 on Friday. The company has a market capitalization of $111.12 billion, a P/E ratio of 29.97, a PEG ratio of 2.70 and a beta of 1.09. The company has a 50-day moving average of $115.96 and a 200-day moving average of $118.02. 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 1-year low of $100.82 and a 1-year high of $135.76.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is currently 101.00%.

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.