Larson Financial Group LLC Has $2.01 Million Position in Prologis, Inc. (NYSE:PLD)

Larson Financial Group LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 19.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,021 shares of the real estate investment trust’s stock after buying an additional 3,079 shares during the period. Larson Financial Group LLC’s holdings in Prologis were worth $2,011,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empirical Asset Management LLC increased its stake in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. increased its stake in Prologis by 2.9% in the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after buying an additional 25,266 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in Prologis in the 3rd quarter valued at $1,051,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Prologis in the 3rd quarter valued at $7,371,000. Finally, Cumberland Partners Ltd acquired a new position in shares of Prologis during the 3rd quarter worth about $1,566,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of NYSE:PLD opened at $119.89 on Friday. The company’s 50 day moving average price is $115.96 and its two-hundred day moving average price is $117.97. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The firm has a market cap of $111.12 billion, a PE ratio of 29.97, a PEG ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

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 given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is presently 101.00%.

Wall Street Analyst Weigh In

PLD has been the topic of several recent analyst reports. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Robert W. Baird boosted their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. UBS Group boosted their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on 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 owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

About Prologis

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.