Sagespring Wealth Partners LLC Invests $677,000 in Prologis, Inc. (NYSE:PLD)

Sagespring Wealth Partners LLC purchased a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 6,409 shares of the real estate investment trust's stock, valued at approximately $677,000.

Several other institutional investors have also made changes to their positions in PLD. Norges Bank bought a new stake in Prologis in the fourth quarter worth approximately $951,263,000. Raymond James Financial Inc. acquired a new position in Prologis during the fourth quarter worth $254,876,000. FMR LLC raised its holdings in Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after buying an additional 1,875,978 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Prologis by 83.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock worth $399,528,000 after acquiring an additional 1,723,129 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Prologis by 59.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,584,288 shares of the real estate investment trust's stock valued at $272,642,000 after acquiring an additional 964,454 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of PLD traded up $1.60 on Friday, hitting $101.89. The company's stock had a trading volume of 6,213,117 shares, compared to its average volume of 4,146,202. The company has a 50 day moving average price of $111.44 and a 200 day moving average price of $113.26. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a market capitalization of $94.45 billion, a PE ratio of 25.47, a PEG ratio of 2.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. The business had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a $1.01 dividend. This is a boost from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Tuesday, March 18th. Prologis's dividend payout ratio (DPR) is 101.00%.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm'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 value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares of the company's stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PLD has been the topic of several analyst reports. Scotiabank reiterated a "sector underperform" rating and set a $97.00 price target (down previously from $133.00) on shares of Prologis in a report on Monday, April 7th. Wolfe Research cut their target price 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. Evercore ISI decreased their price target on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday. Robert W. Baird boosted 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. Finally, Mizuho lowered their target price on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and an average target price of $123.32.

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.