RFG Bristol Wealth Advisors LLC Makes New $456,000 Investment in Prologis, Inc. (NYSE:PLD)

RFG Bristol Wealth Advisors LLC bought a new stake in Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,316 shares of the real estate investment trust’s stock, valued at approximately $456,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in Prologis in the 4th quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Prologis in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new stake in shares of Prologis in the fourth quarter valued at about $30,000. Dunhill Financial LLC lifted its stake in shares of Prologis by 239.5% in the third 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 in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in Prologis during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 0.3 %

Prologis stock opened at $111.49 on Wednesday. The company has a market capitalization of $103.33 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The firm has a 50 day moving average price of $117.67 and a 200 day moving average price of $115.98.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is currently 101.00%.

Analyst Ratings Changes

A number of analysts have commented on PLD shares. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Wolfe Research cut their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Truist Financial boosted their price target on shares of 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 given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

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.