Kestra Private Wealth Services LLC Acquires 15,231 Shares of Prologis, Inc. (NYSE:PLD)

Kestra Private Wealth Services LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 43.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,322 shares of the real estate investment trust’s stock after purchasing an additional 15,231 shares during the period. Kestra Private Wealth Services LLC’s holdings in Prologis were worth $5,319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLD. Dunhill Financial LLC lifted its stake in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the period. Hara Capital LLC bought a new position in Prologis during the 3rd quarter worth approximately $48,000. Coastline Trust Co acquired a new position in shares of Prologis in the 3rd quarter worth approximately $52,000. Fortitude Family Office LLC boosted its stake in shares of Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares during the last quarter. Finally, Reston Wealth Management LLC acquired a new stake in shares of Prologis during the third quarter worth $70,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated 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 directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

Prologis Stock Down 1.0 %

Shares of NYSE:PLD opened at $117.39 on Monday. The business’s 50 day moving average is $111.11 and its 200 day moving average is $118.18. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The stock has a market cap of $108.72 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.64 and a beta of 1.10. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is 96.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. UBS Group upped their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada raised their target price on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Wolfe Research dropped their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. 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 given a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price 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.