Global Retirement Partners LLC Raises Holdings in Prologis, Inc. (NYSE:PLD)

Global Retirement Partners LLC boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,153 shares of the real estate investment trust’s stock after buying an additional 263 shares during the period. Global Retirement Partners LLC’s holdings in Prologis were worth $1,813,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ASB Consultores LLC raised its position in shares of Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 86 shares in the last quarter. Principle Wealth Partners LLC grew its stake in Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after purchasing an additional 92 shares during the last quarter. DT Investment Partners LLC raised its holdings in Prologis by 9.8% in the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 93 shares in the last quarter. Carmel Capital Partners LLC lifted its position in shares of Prologis by 2.6% during the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after buying an additional 94 shares during the last quarter. Finally, Berkshire Bank boosted its holdings in shares of Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after buying an additional 95 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PLD. Robert W. Baird boosted their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Wolfe Research lowered their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Scotiabank decreased their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Prologis Trading Down 0.6 %

Shares of Prologis stock opened at $120.90 on Friday. The stock has a market cap of $112.05 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.71 and a beta of 1.10. The firm has a fifty day moving average price of $112.36 and a 200 day moving average price of $118.01. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.34%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

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.