Modern Wealth Management LLC Takes Position in Prologis, Inc. (NYSE:PLD)

Modern Wealth Management LLC bought a new stake in Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 35,910 shares of the real estate investment trust’s stock, valued at approximately $3,796,000.

Other hedge funds have also bought and sold shares of the company. Centaurus Financial Inc. bought a new position in Prologis during the third quarter worth $112,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Prologis during the 3rd quarter worth about $335,000. Independent Advisor Alliance grew its stake in Prologis by 32.5% in the 3rd quarter. Independent Advisor Alliance now owns 15,054 shares of the real estate investment trust’s stock valued at $1,901,000 after buying an additional 3,690 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in Prologis by 202.2% during the third quarter. Loomis Sayles & Co. L P now owns 1,233 shares of the real estate investment trust’s stock worth $156,000 after acquiring an additional 825 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Prologis by 5.1% during the third quarter. Brown Brothers Harriman & Co. now owns 4,132 shares of the real estate investment trust’s stock worth $522,000 after acquiring an additional 202 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLD has been the subject of several research reports. BNP Paribas raised 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 research report on Monday, January 27th. Robert W. Baird raised their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. UBS Group boosted their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada raised their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target of $128.78.

Insider Transactions at Prologis

In related 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 completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $109.32 on Wednesday. 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 52 week low of $100.82 and a 52 week high of $132.57. The stock has a market capitalization of $101.32 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The stock has a fifty day moving average of $117.66 and a 200-day moving average of $116.67.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.70%. Prologis’s payout ratio is presently 101.00%.

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.