Beacon Harbor Wealth Advisors Inc. Has $6.67 Million Position in Prologis, Inc. (NYSE:PLD)

Beacon Harbor Wealth Advisors Inc. grew its position in Prologis, Inc. (NYSE:PLD) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,058 shares of the real estate investment trust’s stock after buying an additional 2,218 shares during the quarter. Prologis accounts for about 1.6% of Beacon Harbor Wealth Advisors Inc.’s portfolio, making the stock its 25th largest holding. Beacon Harbor Wealth Advisors Inc.’s holdings in Prologis were worth $6,665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empirical Asset Management LLC grew its holdings in shares of 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 valued at $7,249,000 after purchasing an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. grew its holdings in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after purchasing an additional 25,266 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Prologis during the 3rd quarter valued at approximately $1,051,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Prologis during the 3rd quarter valued at approximately $7,371,000. Finally, Cumberland Partners Ltd bought a new stake in shares of Prologis during the 3rd quarter valued at approximately $1,566,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 1.9 %

Prologis stock opened at $124.08 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The firm’s fifty day moving average is $115.40 and its 200 day moving average is $118.03. The company has a market capitalization of $115.00 billion, a PE ratio of 31.02, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The business 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 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is presently 101.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction 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 transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PLD has been the topic of several research reports. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Scotiabank decreased their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Wolfe Research reduced their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, Robert W. Baird boosted 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. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.78.

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.