Prologis, Inc. (NYSE:PLD) Shares Bought by Simplicity Wealth LLC

Simplicity Wealth LLC raised its stake in Prologis, Inc. (NYSE:PLD) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,995 shares of the real estate investment trust’s stock after purchasing an additional 131 shares during the period. Simplicity Wealth LLC’s holdings in Prologis were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PLD. Assetmark Inc. grew its stake in Prologis by 77.1% during the 3rd quarter. Assetmark Inc. now owns 53,165 shares of the real estate investment trust’s stock worth $6,714,000 after buying an additional 23,140 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its stake in Prologis by 104.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 8,298 shares of the real estate investment trust’s stock worth $1,048,000 after buying an additional 4,233 shares during the last quarter. Sigma Planning Corp grew its stake in Prologis by 5.0% during the 3rd quarter. Sigma Planning Corp now owns 7,809 shares of the real estate investment trust’s stock worth $986,000 after buying an additional 372 shares during the last quarter. Tyler Stone Wealth Management grew its stake in Prologis by 158.7% during the 3rd quarter. Tyler Stone Wealth Management now owns 2,191 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 1,344 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Prologis during the 3rd quarter worth approximately $209,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of a number of research reports. BTIG Research dropped their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Truist Financial lifted their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Finally, Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. One 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, the company presently has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

Shares of PLD stock opened at $117.39 on Wednesday. The stock has a fifty day moving average price of $116.45 and a 200 day moving average price of $117.79. The stock has a market cap of $108.81 billion, a PE ratio of 29.35, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.27. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.44%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

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.