Mission Wealth Management LP Sells 1,302 Shares of Prologis, Inc. (NYSE:PLD)

Mission Wealth Management LP lessened its position in Prologis, Inc. (NYSE:PLD) by 26.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,589 shares of the real estate investment trust’s stock after selling 1,302 shares during the quarter. Mission Wealth Management LP’s holdings in Prologis were worth $379,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Dunhill Financial LLC increased 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. Centricity Wealth Management LLC bought a new position in shares of Prologis during the 4th quarter worth about $30,000. Whipplewood Advisors LLC bought a new position in shares of Prologis during the 4th quarter worth about $34,000. Hara Capital LLC bought a new position in shares of Prologis during the 3rd quarter worth about $48,000. Finally, Coastline Trust Co bought a new position in shares of Prologis during the 3rd quarter worth about $52,000. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’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 transaction of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of analyst reports. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Mizuho lowered their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada upped their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. 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 note on Monday, January 27th. 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.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

Shares of PLD stock opened at $124.08 on Thursday. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The firm’s 50 day moving average is $115.40 and its 200-day moving average is $118.03. The firm has a market capitalization of $115.00 billion, a price-to-earnings 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.26%. 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. Prologis’s dividend 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.