Concurrent Investment Advisors LLC Purchases 2,951 Shares of Prologis, Inc. (NYSE:PLD)

Concurrent Investment Advisors LLC grew its stake in Prologis, Inc. (NYSE:PLD) by 24.0% during the 4th quarter, HoldingsChannel reports. The fund owned 15,259 shares of the real estate investment trust’s stock after purchasing an additional 2,951 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Prologis were worth $1,613,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after acquiring an additional 767,609 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Prologis by 0.9% in the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after acquiring an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Prologis by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after purchasing an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Finally, Swedbank AB raised its stake in shares of Prologis by 1.8% in the fourth quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock worth $486,514,000 after purchasing an additional 80,575 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Mizuho decreased their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Wolfe Research decreased their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Truist Financial boosted their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Finally, Robert W. Baird boosted their price target on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Performance

Shares of PLD opened at $121.01 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The business has a 50-day simple moving average of $112.56 and a two-hundred day simple moving average of $118.01. The stock has a market cap of $112.16 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76.

Prologis Increases Dividend

The business 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 $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.34%. Prologis’s dividend payout ratio is presently 96.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now 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 filing with the SEC, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.

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.