Concurrent Investment Advisors LLC Boosts Stock Position in Prologis, Inc. (NYSE:PLD)

Concurrent Investment Advisors LLC increased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 24.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,259 shares of the real estate investment trust's stock after purchasing an additional 2,951 shares during the period. Concurrent Investment Advisors LLC's holdings in Prologis were worth $1,613,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PLD. Meitav Investment House Ltd. raised its stake in Prologis by 10.2% during the 4th quarter. Meitav Investment House Ltd. now owns 657,531 shares of the real estate investment trust's stock valued at $69,466,000 after acquiring an additional 60,872 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Prologis by 14.0% during the 4th quarter. Handelsbanken Fonder AB now owns 404,236 shares of the real estate investment trust's stock worth $42,728,000 after purchasing an additional 49,550 shares during the last quarter. Sunpointe LLC boosted its stake in Prologis by 10.7% during the 4th quarter. Sunpointe LLC now owns 2,429 shares of the real estate investment trust's stock valued at $257,000 after purchasing an additional 235 shares during the period. Ieq Capital LLC grew its holdings in shares of Prologis by 0.3% during the 4th quarter. Ieq Capital LLC now owns 34,703 shares of the real estate investment trust's stock worth $3,668,000 after purchasing an additional 103 shares in the last quarter. Finally, TKG Advisors LLC increased its stake in Prologis by 0.8% in the fourth quarter. TKG Advisors LLC now owns 20,299 shares of the real estate investment trust's stock valued at $2,146,000 after acquiring an additional 153 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Down 0.4 %

Shares of NYSE:PLD traded down $0.50 during trading on Wednesday, reaching $122.11. The stock had a trading volume of 2,324,815 shares, compared to its average volume of 3,847,444. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. 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 firm's fifty day moving average is $113.07 and its 200 day moving average is $117.99. The stock has a market cap of $113.18 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 2.70 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. Shareholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.31%. This is a boost 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%.

Wall Street Analyst Weigh In

PLD has been the subject of several research analyst reports. Wolfe Research dropped their price objective on shares of Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Robert W. Baird raised their price target on 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 Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Barclays lifted their price target on shares of Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research note on Monday, November 18th. Finally, BTIG Research cut their price objective on shares of Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Prologis has an average rating of "Moderate Buy" and an average price target of $128.78.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction dated 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 directly owns 7,977 shares of the company's stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.56% of the stock is currently owned by company insiders.

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.