CreativeOne Wealth LLC Raises Holdings in Prologis, Inc. (NYSE:PLD)

CreativeOne Wealth LLC grew its stake in Prologis, Inc. (NYSE:PLD) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,073 shares of the real estate investment trust’s stock after buying an additional 100 shares during the quarter. CreativeOne Wealth LLC’s holdings in Prologis were worth $642,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PLD. Empirical Asset Management LLC grew its holdings in Prologis by 339.0% during the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after acquiring an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. grew its stake in shares of Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Aviva PLC increased its holdings in Prologis by 36.6% in the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock valued at $73,481,000 after buying an additional 186,187 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Prologis by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after buying an additional 179,880 shares in the last quarter. Finally, Allstate Corp lifted its holdings in Prologis by 111.7% during the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock worth $7,877,000 after buying an additional 39,321 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity at Prologis

In other Prologis 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 owns 7,977 shares of the company’s stock, 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 accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.

Prologis Stock Up 1.6 %

PLD stock opened at $101.89 on Friday. The company’s 50-day moving average price is $111.44 and its 200 day moving average price is $113.26. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. 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 market cap of $94.45 billion, a P/E ratio of 25.47, a P/E/G ratio of 2.70 and a beta of 1.20.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.96%. Prologis’s payout ratio is currently 101.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLD. Truist Financial raised their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Scotiabank restated a “sector underperform” rating and issued a $97.00 target price (down previously from $133.00) on shares of Prologis in a report on Monday, April 7th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. 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 note on Friday, January 17th. Finally, Royal Bank of Canada boosted their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.32.

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.