HighPoint Advisor Group LLC Has $1.58 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

HighPoint Advisor Group LLC raised its position in Prologis, Inc. (NYSE:PLD) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,949 shares of the real estate investment trust’s stock after acquiring an additional 612 shares during the period. HighPoint Advisor Group LLC’s holdings in Prologis were worth $1,580,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Townsquare Capital LLC boosted its stake in Prologis by 12.5% during the third quarter. Townsquare Capital LLC now owns 15,307 shares of the real estate investment trust’s stock worth $1,933,000 after buying an additional 1,705 shares in the last quarter. Bridgewater Associates LP boosted its position in shares of Prologis by 4.0% during the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock valued at $338,000 after acquiring an additional 103 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Prologis in the third quarter valued at about $16,052,000. Benjamin Edwards Inc. raised its position in Prologis by 736.6% in the third quarter. Benjamin Edwards Inc. now owns 23,641 shares of the real estate investment trust’s stock worth $2,986,000 after purchasing an additional 20,815 shares in the last quarter. Finally, Hilltop Holdings Inc. raised its position in Prologis by 290.7% in the third quarter. Hilltop Holdings Inc. now owns 32,009 shares of the real estate investment trust’s stock worth $4,042,000 after purchasing an additional 23,816 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD stock opened at $111.79 on Tuesday. The firm has a market cap of $103.61 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $117.78 and a 200 day moving average price of $116.11.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.61%. Prologis’s payout ratio is currently 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PLD shares. BTIG Research decreased their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Scotiabank dropped their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, UBS Group raised their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. One 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 company’s stock. Based on data from MarketBeat, the company presently has an average 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.