Avestar Capital LLC Raises Stake in Prologis, Inc. (NYSE:PLD)

Avestar Capital LLC raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 22.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,336 shares of the real estate investment trust’s stock after acquiring an additional 974 shares during the period. Avestar Capital LLC’s holdings in Prologis were worth $564,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Values First Advisors Inc. raised its position in Prologis by 44.8% in the 4th quarter. Values First Advisors Inc. now owns 1,933 shares of the real estate investment trust’s stock worth $204,000 after purchasing an additional 598 shares during the period. Kentucky Trust Co bought a new position in shares of Prologis during the fourth quarter valued at about $156,000. Gladstone Institutional Advisory LLC increased its holdings in shares of Prologis by 26.4% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 5,090 shares of the real estate investment trust’s stock worth $538,000 after buying an additional 1,062 shares during the period. Certuity LLC bought a new stake in shares of Prologis in the 4th quarter valued at about $225,000. Finally, Community Financial Services Group LLC boosted its holdings in Prologis by 3.3% during the 4th quarter. Community Financial Services Group LLC now owns 54,879 shares of the real estate investment trust’s stock valued at $5,801,000 after acquiring an additional 1,757 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated 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 transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. 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 report on Thursday, January 30th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Barclays upped their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Trading Up 1.1 %

NYSE PLD opened at $121.07 on Friday. The firm has a market capitalization of $112.13 billion, a PE ratio of 30.27, a P/E/G ratio of 2.64 and a beta of 1.10. The stock’s 50 day moving average is $111.39 and its 200 day moving average is $118.15. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

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.