Prologis, Inc. (NYSE:PLD) Stake Lifted by Sigma Planning Corp

Sigma Planning Corp raised its stake in Prologis, Inc. (NYSE:PLD) by 14.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,940 shares of the real estate investment trust’s stock after buying an additional 1,131 shares during the quarter. Sigma Planning Corp’s holdings in Prologis were worth $945,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of PLD. Greystone Financial Group LLC increased its stake in shares of Prologis by 31.4% in the fourth quarter. Greystone Financial Group LLC now owns 75,839 shares of the real estate investment trust’s stock valued at $8,016,000 after purchasing an additional 18,106 shares during the period. Centricity Wealth Management LLC acquired a new stake in Prologis in the 4th quarter valued at approximately $30,000. FDx Advisors Inc. boosted its position in Prologis by 11.2% during the 4th quarter. FDx Advisors Inc. now owns 1,993 shares of the real estate investment trust’s stock worth $211,000 after acquiring an additional 201 shares during the period. Nicholson Wealth Management Group LLC grew its stake in shares of Prologis by 174.3% in the fourth quarter. Nicholson Wealth Management Group LLC now owns 12,671 shares of the real estate investment trust’s stock worth $1,339,000 after purchasing an additional 8,051 shares in the last quarter. Finally, Mattern Capital Management LLC increased its holdings in shares of Prologis by 5.1% during the fourth quarter. Mattern Capital Management LLC now owns 74,923 shares of the real estate investment trust’s stock valued at $7,919,000 after purchasing an additional 3,632 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Prologis stock opened at $122.69 on Wednesday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The firm’s 50 day simple moving average is $113.07 and its 200-day simple moving average is $117.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company has a market cap of $113.72 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The company also recently announced 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 is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.29%. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction 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 transaction, the executive now directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PLD. Mizuho decreased their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. UBS Group boosted their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average price target of $128.78.

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.