IFP Advisors Inc Purchases 1,058 Shares of Prologis, Inc. (NYSE:PLD)

IFP Advisors Inc lifted its position in Prologis, Inc. (NYSE:PLD) by 29.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,624 shares of the real estate investment trust’s stock after purchasing an additional 1,058 shares during the quarter. IFP Advisors Inc’s holdings in Prologis were worth $489,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State Street Corp grew its position in Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after acquiring an additional 767,609 shares in the last quarter. Geode Capital Management LLC grew its position in Prologis by 0.9% in the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after acquiring an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Prologis by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after acquiring an additional 441,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Prologis by 534.7% in the third 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 acquiring an additional 8,545,336 shares in the last quarter. Finally, Swedbank AB grew its position in Prologis by 1.8% in the fourth quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock worth $486,514,000 after acquiring an additional 80,575 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PLD shares. UBS Group lifted their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Barclays lifted their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Mizuho dropped their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets lowered 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. Finally, Royal Bank of Canada boosted their target price 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 analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.56% of the stock is owned by company insiders.

Prologis Stock Up 0.9 %

Shares of NYSE PLD opened at $123.88 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. The firm has a market capitalization of $114.82 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. The stock has a 50 day moving average price of $114.28 and a 200 day moving average price of $118.08. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76.

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 issued a $1.01 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 3.26%. Prologis’s payout ratio is presently 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.