Signature Estate & Investment Advisors LLC Buys 10,487 Shares of Prologis, Inc. (NYSE:PLD)

Signature Estate & Investment Advisors LLC raised its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 193,911 shares of the real estate investment trust's stock after purchasing an additional 10,487 shares during the quarter. Signature Estate & Investment Advisors LLC's holdings in Prologis were worth $20,496,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. State Street Corp lifted its holdings in Prologis by 1.4% in 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 purchasing an additional 767,609 shares in the last quarter. Geode Capital Management LLC increased its stake in Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust's stock worth $2,612,395,000 after acquiring an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Prologis by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust's stock valued at $1,099,569,000 after buying an additional 173,531 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Prologis by 534.7% in the 3rd 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 valued at $1,280,928,000 after acquiring an additional 8,545,336 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Prologis by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust's stock worth $631,266,000 after purchasing an additional 32,644 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research note on Monday, January 27th. Truist Financial boosted their target price on Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Wolfe Research dropped their price objective on Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. BTIG Research decreased their price target on shares of Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Finally, Robert W. Baird upped their price target on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $128.78.

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 transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares of the company's stock, 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.50% of the company's stock.

Prologis Stock Down 0.3 %

NYSE:PLD traded down $0.38 on Friday, hitting $110.37. 3,660,201 shares of the company's stock traded hands, compared to its average volume of 3,915,027. The firm has a 50-day moving average price of $117.74 and a 200-day moving average price of $116.34. The company has a market cap of $102.29 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. 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.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.66%. 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 is 101.00%.

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.