OneAscent Financial Services LLC Acquires Shares of 4,511 Prologis, Inc. (NYSE:PLD)

OneAscent Financial Services LLC acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,511 shares of the real estate investment trust's stock, valued at approximately $477,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Empirical Asset Management LLC lifted its stake in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock worth $7,249,000 after purchasing an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. raised its holdings in shares of Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock valued at $94,391,000 after buying an additional 25,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Prologis by 29.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock worth $82,907,000 after acquiring an additional 179,880 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new position in Prologis during the 3rd quarter valued at about $1,051,000. Finally, Allstate Corp grew its position in Prologis by 111.7% in the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after acquiring an additional 39,321 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLD has been the subject of several recent research reports. Mizuho lowered their price objective on shares of 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 price target on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research report on Monday, January 27th. Robert W. Baird upped their price objective on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. BTIG Research reduced their price objective on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Finally, Scotiabank reissued a "sector underperform" rating and set a $97.00 target price (down from $133.00) on shares of Prologis in a research note on Monday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $126.78.

Prologis Price Performance

Shares of NYSE:PLD traded up $8.68 during trading on Wednesday, hitting $98.44. 17,530,718 shares of the stock were exchanged, compared to its average volume of 4,085,109. The company has a market cap of $91.25 billion, a PE ratio of 24.61, a P/E/G ratio of 2.70 and a beta of 1.20. 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 company has a fifty day moving average price of $114.25 and a two-hundred day moving average price of $114.48. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 4.10%. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio is presently 101.00%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated 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 completion of the sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by insiders.

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.