LPL Financial LLC Increases Stock Holdings in Prologis, Inc. (NYSE:PLD)

LPL Financial LLC boosted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 16.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 951,459 shares of the real estate investment trust's stock after purchasing an additional 136,545 shares during the quarter. LPL Financial LLC owned approximately 0.10% of Prologis worth $100,569,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Principle Wealth Partners LLC increased its stake in Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock valued at $349,000 after purchasing an additional 92 shares in the last quarter. Black Diamond Financial LLC grew its stake in shares of Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock worth $449,000 after acquiring an additional 93 shares during the period. Berkshire Bank grew its position in Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock worth $443,000 after purchasing an additional 95 shares during the period. J.Safra Asset Management Corp increased its position in Prologis by 22.3% during the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust's stock valued at $59,000 after acquiring an additional 102 shares during the last quarter. Finally, Bridgewater Associates LP increased 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 purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

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Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Scotiabank cut 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. Mizuho reduced their price objective on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada raised their target price on Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a report on Monday, January 27th. Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Finally, Raymond James reaffirmed a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $128.78.

Prologis Price Performance

Shares of PLD traded down $0.38 during midday trading on Friday, hitting $110.37. 3,660,201 shares of the company traded hands, compared to its average volume of 3,915,027. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. 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 has a 50 day moving average of $117.74 and a 200-day moving average of $116.34. The stock has a market cap of $102.29 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company 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 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is currently 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.