Prestige Wealth Management Group LLC Purchases 858 Shares of Prologis, Inc. (NYSE:PLD)

Prestige Wealth Management Group LLC grew its position in shares of Prologis, Inc. (NYSE:PLD) by 6.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,303 shares of the real estate investment trust’s stock after acquiring an additional 858 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Prologis were worth $1,406,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empirical Asset Management LLC lifted its position 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 valued at $7,249,000 after purchasing an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. lifted 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 acquiring an additional 25,266 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Prologis by 29.8% in the fourth 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 bought a new stake in Prologis during the third quarter worth approximately $1,051,000. Finally, The Manufacturers Life Insurance Company raised its position in Prologis by 1.3% during the third quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock valued at $92,048,000 after purchasing an additional 9,147 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

PLD opened at $110.35 on Tuesday. The company has a market capitalization of $102.28 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.70 and a beta of 1.09. 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, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. The business’s fifty day simple moving average is $117.64 and its 200-day simple moving average is $116.80.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.66%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is presently 101.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLD. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Wolfe Research cut their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada raised their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Finally, Truist Financial raised their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred 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 directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

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.