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

Modern Wealth Management LLC bought a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,910 shares of the real estate investment trust's stock, valued at approximately $3,796,000.

Other large investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust's stock worth $1,280,928,000 after acquiring an additional 8,545,336 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Prologis during the fourth quarter worth about $254,876,000. Janus Henderson Group PLC boosted its stake in Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust's stock valued at $456,320,000 after acquiring an additional 2,138,693 shares during the last quarter. Jennison Associates LLC boosted its stake in Prologis by 395.3% in the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust's stock valued at $109,858,000 after acquiring an additional 829,504 shares during the last quarter. Finally, State Street Corp grew its position in shares of Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust's stock valued at $7,250,157,000 after acquiring an additional 767,609 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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Prologis Stock Down 0.3 %

PLD traded down $0.38 during midday trading on Friday, reaching $110.37. The company's stock had a trading volume of 3,660,201 shares, compared to its average volume of 3,915,027. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $102.29 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.70 and a beta of 1.09. The stock's 50-day moving average is $117.74 and its 200-day moving average is $116.34.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 3.66%. 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 Analysts Forecast Growth

Several equities analysts recently commented on PLD shares. Royal Bank of Canada upped their price objective on Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research note on Monday, January 27th. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Scotiabank lowered their price target on Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Monday, January 27th. Truist Financial lifted their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Finally, Robert W. Baird upped their price target on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.

Insider Buying and Selling at Prologis

In other Prologis 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 sale, the executive now directly owns 7,977 shares of the company's stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company's stock.

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.