Wedbush Securities Inc. Has $1.21 Million Stake in Prologis, Inc. (NYSE:PLD)

Wedbush Securities Inc. grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 12.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,433 shares of the real estate investment trust’s stock after buying an additional 1,293 shares during the period. Wedbush Securities Inc.’s holdings in Prologis were worth $1,208,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PLD. Perennial Investment Advisors LLC boosted its position in shares of Prologis by 8.2% during the 4th quarter. Perennial Investment Advisors LLC now owns 2,649 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 200 shares in the last quarter. Aviva PLC boosted its holdings in Prologis by 36.6% during the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock valued at $73,481,000 after purchasing an additional 186,187 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of Prologis in the 4th quarter valued at approximately $55,512,000. Prudential PLC lifted its position in shares of Prologis by 21.2% during the 4th quarter. Prudential PLC now owns 23,014 shares of the real estate investment trust’s stock worth $2,433,000 after buying an additional 4,019 shares during the period. Finally, Yoffe Investment Management LLC bought a new position in shares of Prologis during the 4th quarter worth approximately $295,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PLD shares. Robert W. Baird lifted their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. 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 report on Monday, January 27th. BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, Scotiabank dropped their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

Shares of PLD opened at $98.10 on Monday. 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 stock has a market cap of $90.94 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The stock’s 50-day moving average price is $116.86 and its two-hundred day moving average price is $115.46. Prologis, Inc. has a 1 year low of $95.34 and a 1 year high of $132.57.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a $1.01 dividend. The ex-dividend date was Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 4.12%. 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 Prologis stock in a transaction dated Wednesday, February 5th. The stock was 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. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.50% of the company’s stock.

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.