Nicholson Wealth Management Group LLC Purchases 8,051 Shares of Prologis, Inc. (NYSE:PLD)

Nicholson Wealth Management Group LLC increased its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 174.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,671 shares of the real estate investment trust's stock after acquiring an additional 8,051 shares during the quarter. Nicholson Wealth Management Group LLC's holdings in Prologis were worth $1,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mattern Capital Management LLC raised its holdings in Prologis by 5.1% during the 4th quarter. Mattern Capital Management LLC now owns 74,923 shares of the real estate investment trust's stock worth $7,919,000 after buying an additional 3,632 shares during the period. First Bank & Trust raised its holdings in shares of Prologis by 167.2% during the fourth quarter. First Bank & Trust now owns 16,164 shares of the real estate investment trust's stock valued at $1,709,000 after acquiring an additional 10,114 shares during the period. Concurrent Investment Advisors LLC lifted its position in shares of Prologis by 24.0% in the 4th quarter. Concurrent Investment Advisors LLC now owns 15,259 shares of the real estate investment trust's stock valued at $1,613,000 after acquiring an additional 2,951 shares in the last quarter. Meitav Investment House Ltd. boosted its stake in Prologis by 10.2% in the 4th quarter. Meitav Investment House Ltd. now owns 657,531 shares of the real estate investment trust's stock worth $69,466,000 after purchasing an additional 60,872 shares during the period. Finally, Handelsbanken Fonder AB grew its position in 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 in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PLD shares. 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 research report on Monday, January 27th. Mizuho lowered their target price on Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Scotiabank reduced their price target 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. Truist Financial boosted their price objective 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. Finally, UBS Group lifted their target price on shares of Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $128.78.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.56% of the company's stock.

Prologis Stock Performance

PLD stock traded up $2.15 during midday trading on Tuesday, hitting $122.88. 1,360,876 shares of the company traded hands, compared to its average volume of 3,821,930. The business has a 50 day simple moving average of $112.80 and a 200-day simple moving average of $117.98. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The stock has a market capitalization of $113.89 billion, a price-to-earnings ratio of 30.56, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.29%. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is 101.00%.

Prologis Company 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.