Principle Wealth Partners LLC Has $349,000 Stock Holdings in Prologis, Inc. (NYSE:PLD)

Principle Wealth Partners LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 2.9% during the 4th quarter, HoldingsChannel reports. The fund owned 3,302 shares of the real estate investment trust’s stock after purchasing an additional 92 shares during the quarter. Principle Wealth Partners LLC’s holdings in Prologis were worth $349,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PLD. AMF Tjanstepension AB lifted its stake in shares of Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after acquiring an additional 1,365,811 shares during the period. CWM LLC lifted its stake in shares of Prologis by 6.6% during the third quarter. CWM LLC now owns 20,255 shares of the real estate investment trust’s stock valued at $2,558,000 after acquiring an additional 1,257 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Prologis by 29.6% during the third quarter. Exchange Traded Concepts LLC now owns 6,229 shares of the real estate investment trust’s stock valued at $787,000 after acquiring an additional 1,424 shares during the period. Procyon Advisors LLC lifted its stake in shares of Prologis by 60.1% during the third quarter. Procyon Advisors LLC now owns 4,717 shares of the real estate investment trust’s stock valued at $595,000 after acquiring an additional 1,771 shares during the period. Finally, Fiduciary Alliance LLC acquired a new position in shares of Prologis during the third quarter valued at $208,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 1.9 %

NYSE:PLD opened at $121.76 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The company has a market cap of $112.77 billion, a PE ratio of 30.44, a PEG ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The stock has a 50-day simple moving average of $111.19 and a 200 day simple moving average of $118.14.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.15%. Prologis’s payout ratio is presently 96.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PLD shares. JPMorgan Chase & Co. cut their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Truist Financial increased their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Mizuho cut their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. One 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on 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 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by corporate 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.