6,409 Shares in Prologis, Inc. (NYSE:PLD) Bought by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC acquired a new position in Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,409 shares of the real estate investment trust’s stock, valued at approximately $677,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its holdings in Prologis by 7.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 555,318 shares of the real estate investment trust’s stock valued at $58,715,000 after purchasing an additional 36,353 shares during the last quarter. First Foundation Advisors boosted its stake in shares of Prologis by 7.6% during the 4th quarter. First Foundation Advisors now owns 62,950 shares of the real estate investment trust’s stock valued at $6,654,000 after buying an additional 4,450 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of Prologis by 0.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 406,536 shares of the real estate investment trust’s stock worth $42,971,000 after buying an additional 1,046 shares in the last quarter. Scotia Capital Inc. increased its stake in shares of Prologis by 20.4% in the fourth quarter. Scotia Capital Inc. now owns 486,692 shares of the real estate investment trust’s stock worth $51,447,000 after buying an additional 82,490 shares during the last quarter. Finally, Phoenix Financial Ltd. raised its holdings in Prologis by 1.0% in the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock valued at $955,000 after acquiring an additional 86 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PLD shares. Truist Financial boosted their target price 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. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Scotiabank reiterated a “sector underperform” rating and set a $97.00 target price (down previously from $133.00) on shares of Prologis in a research note on Monday, April 7th. Finally, Robert W. Baird increased their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.78.

Prologis Stock Up 1.8 %

Shares of Prologis stock opened at $98.00 on Tuesday. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a market capitalization of $90.84 billion, a P/E ratio of 24.50, a PEG ratio of 2.70 and a beta of 1.20. The business’s fifty day moving average price is $112.93 and its two-hundred day moving average price is $113.79. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 4.12%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is presently 101.00%.

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.