Centricity Wealth Management LLC Acquires New Holdings in Prologis, Inc. (NYSE:PLD)

Centricity Wealth Management LLC bought a new position in Prologis, Inc. (NYSE:PLD) in the 4th quarter, HoldingsChannel reports. The fund bought 285 shares of the real estate investment trust’s stock, valued at approximately $30,000.

Other large investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 purchasing an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC grew its position in Prologis by 145.0% in 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 buying an additional 2,138,693 shares in the last quarter. AMF Tjanstepension AB increased its stake in Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after buying an additional 1,365,811 shares during the period. Cardano Risk Management B.V. bought a new stake in shares of Prologis during the 3rd quarter worth about $109,579,000. Finally, Jennison Associates LLC lifted its stake in shares of Prologis by 395.3% in the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after acquiring an additional 829,504 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 0.1 %

NYSE PLD opened at $121.01 on Friday. The firm’s 50 day moving average price is $112.56 and its two-hundred day moving average price is $118.03. 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 twelve month low of $100.82 and a twelve month high of $135.76. The stock has a market cap of $112.16 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.72 and a beta of 1.10.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.34%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is presently 96.00%.

Analysts Set New Price Targets

A number of research firms recently commented on PLD. UBS Group raised their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Royal Bank of Canada upped their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Truist Financial upped their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a 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 issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company 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.