Sowell Financial Services LLC Takes $1.21 Million Position in Prologis, Inc. (NYSE:PLD)

Sowell Financial Services LLC bought a new stake in Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,474 shares of the real estate investment trust’s stock, valued at approximately $1,213,000.

A number of other institutional investors also recently modified their holdings of PLD. Assetmark Inc. raised its stake in shares of Prologis by 77.1% in the third quarter. Assetmark Inc. now owns 53,165 shares of the real estate investment trust’s stock valued at $6,714,000 after acquiring an additional 23,140 shares during the last quarter. Atria Investments Inc raised its position in Prologis by 16.1% in the 3rd quarter. Atria Investments Inc now owns 104,702 shares of the real estate investment trust’s stock worth $13,222,000 after purchasing an additional 14,558 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its position in Prologis by 104.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 8,298 shares of the real estate investment trust’s stock worth $1,048,000 after purchasing an additional 4,233 shares during the last quarter. Sigma Planning Corp raised its position in Prologis by 5.0% in the 3rd quarter. Sigma Planning Corp now owns 7,809 shares of the real estate investment trust’s stock worth $986,000 after purchasing an additional 372 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC raised its position in Prologis by 101.2% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 5,724 shares of the real estate investment trust’s stock worth $723,000 after purchasing an additional 2,879 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 1.6 %

Shares of NYSE:PLD opened at $117.97 on Tuesday. The company’s 50-day moving average price is $116.22 and its two-hundred day moving average price is $117.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The stock has a market capitalization of $109.34 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.42%. Prologis’s payout ratio is 101.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on PLD. BTIG Research dropped their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada boosted 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. Mizuho lowered their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays lifted their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, Wolfe Research reduced their target price 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

In other 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 directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by 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.