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

Proficio Capital Partners LLC boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 74.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,277 shares of the real estate investment trust’s stock after acquiring an additional 1,402 shares during the period. Proficio Capital Partners LLC’s holdings in Prologis were worth $346,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PLD shares. Robert W. Baird increased their price target on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wolfe Research decreased their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Truist Financial upped their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Scotiabank dropped their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Finally, Mizuho lowered their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

Shares of Prologis stock opened at $109.32 on Wednesday. The firm has a market capitalization of $101.32 billion, a P/E ratio of 27.33, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. 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 company has a 50 day moving average price of $117.66 and a 200 day moving average price of $116.67.

Prologis Increases Dividend

The company 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 $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.70%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio is presently 101.00%.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction 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 sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by company 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.