SRS Capital Advisors Inc. Grows Holdings in Prologis, Inc. (NYSE:PLD)

SRS Capital Advisors Inc. grew its stake in Prologis, Inc. (NYSE:PLD) by 38.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,034 shares of the real estate investment trust’s stock after buying an additional 839 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Prologis were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. Dunhill Financial LLC lifted its holdings in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Prologis in the 4th quarter worth approximately $30,000. Whipplewood Advisors LLC bought a new stake in shares of Prologis in the 4th quarter worth approximately $34,000. Hara Capital LLC bought a new stake in shares of Prologis in the 3rd quarter worth approximately $48,000. Finally, Coastline Trust Co bought a new stake in shares of Prologis in the 3rd quarter worth approximately $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of a number of recent research reports. Mizuho lowered their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Raymond James restated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Scotiabank lowered their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Finally, BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Down 1.3 %

Shares of NYSE PLD opened at $121.97 on Wednesday. The firm has a fifty day simple moving average of $115.01 and a two-hundred day simple moving average of $117.99. The firm has a market capitalization of $113.05 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. 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 $135.76.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.31%. Prologis’s dividend payout ratio is currently 101.00%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.