Kestra Private Wealth Services LLC Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Kestra Private Wealth Services LLC boosted its stake in Prologis, Inc. (NYSE:PLD) by 43.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 50,322 shares of the real estate investment trust’s stock after purchasing an additional 15,231 shares during the period. Kestra Private Wealth Services LLC’s holdings in Prologis were worth $5,319,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empirical Asset Management LLC lifted its stake in Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 52,963 shares during the last quarter. Sunflower Bank N.A. purchased a new position in shares of Prologis during the 3rd quarter valued at $249,000. Cardano Risk Management B.V. lifted its position in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after buying an additional 25,266 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Prologis by 2.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after acquiring an additional 29,400 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new stake in Prologis in the 3rd quarter worth about $1,051,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE:PLD opened at $117.39 on Monday. The company’s fifty day moving average price is $111.11 and its 200-day moving average price is $118.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The firm has a market capitalization of $108.72 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. Prologis’s dividend payout ratio is presently 96.00%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on 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 transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Truist Financial boosted their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Mizuho decreased their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

About Prologis

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.