MONECO Advisors LLC Has $915,000 Position in Prologis, Inc. (NYSE:PLD)

MONECO Advisors LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 8.3% during the fourth quarter, HoldingsChannel reports. The firm owned 8,659 shares of the real estate investment trust’s stock after purchasing an additional 661 shares during the period. MONECO Advisors LLC’s holdings in Prologis were worth $915,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Dunhill Financial LLC increased its position in 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 buying an additional 182 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Prologis in the fourth quarter worth $30,000. Hara Capital LLC bought a new position in Prologis during the third quarter worth $48,000. Coastline Trust Co bought a new position in Prologis during the third quarter worth $52,000. Finally, Fortitude Family Office LLC raised its stake in Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

NYSE:PLD opened at $121.01 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market cap of $112.16 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company’s 50-day moving average price is $112.56 and its two-hundred day moving average price is $117.99.

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 issued a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is presently 96.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PLD has been the topic of several research analyst reports. Barclays raised their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Royal Bank of Canada lifted their target price on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Scotiabank cut 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. Mizuho reduced their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Truist Financial boosted their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. One 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

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.