Simplicity Wealth LLC Increases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Simplicity Wealth LLC increased its holdings in Prologis, Inc. (NYSE:PLD) by 7.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,995 shares of the real estate investment trust’s stock after purchasing an additional 131 shares during the period. Simplicity Wealth LLC’s holdings in Prologis were worth $211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Empirical Asset Management LLC grew its position in shares of 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 period. Cardano Risk Management B.V. grew its position in Prologis by 2.9% during the fourth 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 acquiring an additional 25,266 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in Prologis during the third quarter valued at about $1,051,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Prologis during the third quarter valued at about $7,371,000. Finally, Cumberland Partners Ltd purchased a new stake in Prologis during the third quarter valued at about $1,566,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 0.4 %

Shares of PLD opened at $117.39 on Wednesday. The company has a market capitalization of $108.81 billion, a P/E ratio of 29.35, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.27. 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 stock has a 50-day moving average price of $116.45 and a 200 day moving average price of $117.79.

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 issued a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.44%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is currently 101.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on 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. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PLD shares. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. UBS Group boosted their price target on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned 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.com, Prologis 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.