Centricity Wealth Management LLC Takes $30,000 Position in Prologis, Inc. (NYSE:PLD)

Centricity Wealth Management LLC bought a new position in Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 285 shares of the real estate investment trust’s stock, valued at approximately $30,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC lifted its stake in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares in the last quarter. Hara Capital LLC purchased a new position in Prologis in the third quarter valued at approximately $48,000. Coastline Trust Co acquired a new position in Prologis during the third quarter valued at approximately $52,000. Asset Planning Inc purchased a new stake in Prologis during the fourth quarter worth approximately $53,000. Finally, Fortitude Family Office LLC increased its position in shares of Prologis by 120.6% in the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PLD shares. Robert W. Baird lifted 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. Barclays raised their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $120.00 to $104.00 in a report on Friday, December 6th. Finally, Scotiabank decreased their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Buying and Selling 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 completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by insiders.

Prologis Trading Up 0.1 %

Shares of NYSE PLD opened at $121.01 on Friday. 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 stock’s 50 day moving average price is $112.56 and its two-hundred day moving average price is $118.03. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The stock has a market capitalization of $112.16 billion, a P/E ratio of 30.25, a PEG ratio of 2.72 and a beta of 1.10.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.34%. Prologis’s dividend payout ratio (DPR) is 96.00%.

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.