NewEdge Wealth LLC Boosts Holdings in Prologis, Inc. (NYSE:PLD)

NewEdge Wealth LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 5.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 30,955 shares of the real estate investment trust’s stock after acquiring an additional 1,489 shares during the period. NewEdge Wealth LLC’s holdings in Prologis were worth $3,272,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in PLD. Centricity Wealth Management LLC purchased a new stake in Prologis in the fourth quarter valued at $30,000. Dunhill Financial LLC boosted its holdings in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the last quarter. Hara Capital LLC purchased a new stake in Prologis in the third quarter valued at $48,000. Coastline Trust Co acquired a new position in shares of Prologis in the third quarter worth about $52,000. Finally, Asset Planning Inc acquired a new position in shares of Prologis in the fourth quarter worth about $53,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In related 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 transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is owned by corporate insiders.

Prologis Stock Up 0.9 %

Shares of NYSE PLD opened at $123.88 on Friday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The stock has a market cap of $114.82 billion, a PE ratio of 30.97, a P/E/G 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. The company has a 50-day moving average of $114.28 and a 200 day moving average of $118.08.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is currently 101.00%.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Wolfe Research decreased their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Robert W. Baird upped their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, Royal Bank of Canada upped their price objective on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average 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.