Proficio Capital Partners LLC Grows Position in Prologis, Inc. (NYSE:PLD)

Proficio Capital Partners LLC grew its position in shares of Prologis, Inc. (NYSE:PLD) by 74.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,277 shares of the real estate investment trust’s stock after buying an additional 1,402 shares during the period. Proficio Capital Partners LLC’s holdings in Prologis were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Assetmark Inc. grew its holdings in Prologis by 7.9% in the fourth quarter. Assetmark Inc. now owns 57,339 shares of the real estate investment trust’s stock valued at $6,061,000 after purchasing an additional 4,174 shares during the period. J.Safra Asset Management Corp raised its position in shares of Prologis by 22.3% during the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 102 shares during the last quarter. Cookson Peirce & Co. Inc. lifted its stake in Prologis by 13.3% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,485 shares of the real estate investment trust’s stock valued at $474,000 after buying an additional 526 shares in the last quarter. Laffer Tengler Investments Inc. lifted its stake in Prologis by 21.4% in the 4th quarter. Laffer Tengler Investments Inc. now owns 40,806 shares of the real estate investment trust’s stock valued at $4,313,000 after buying an additional 7,205 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Prologis by 4.0% in the 4th quarter. Victory Capital Management Inc. now owns 943,841 shares of the real estate investment trust’s stock worth $99,764,000 after buying an additional 36,278 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 0.9 %

Shares of PLD opened at $109.32 on Wednesday. The company’s 50-day simple moving average is $117.66 and its 200-day simple moving average is $116.67. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The stock has a market capitalization of $101.32 billion, a PE ratio of 27.33, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.70%. Prologis’s dividend payout ratio is 101.00%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PLD has been the subject of several recent research reports. Robert W. Baird increased their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. BTIG Research dropped their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Mizuho cut their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis 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.