Fiduciary Group LLC Acquires 230 Shares of Prologis, Inc. (NYSE:PLD)

Fiduciary Group LLC increased its holdings in Prologis, Inc. (NYSE:PLD) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,098 shares of the real estate investment trust’s stock after acquiring an additional 230 shares during the quarter. Fiduciary Group LLC’s holdings in Prologis were worth $433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Centricity Wealth Management LLC purchased a new position in shares of Prologis during the fourth quarter valued at approximately $30,000. Dunhill Financial LLC increased its position in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in Prologis during the fourth quarter valued at $34,000. Promus Capital LLC purchased a new position in Prologis during the fourth quarter valued at $34,000. Finally, Asset Planning Inc bought a new stake in Prologis in the fourth quarter worth $53,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of NYSE PLD opened at $112.01 on Friday. The firm has a 50 day moving average of $117.44 and a 200 day moving average of $117.21. 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 firm has a market capitalization of $103.81 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.61%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PLD. UBS Group raised their price target on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Scotiabank reduced their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. Truist Financial lifted their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. BTIG Research decreased their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Finally, BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given 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 target price of $128.78.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on 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 directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

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.