Prologis, Inc. (NYSE:PLD) Shares Bought by Greystone Financial Group LLC

Greystone Financial Group LLC increased its holdings in Prologis, Inc. (NYSE:PLD) by 31.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,839 shares of the real estate investment trust’s stock after purchasing an additional 18,106 shares during the quarter. Prologis accounts for 1.4% of Greystone Financial Group LLC’s holdings, making the stock its 29th biggest position. Greystone Financial Group LLC’s holdings in Prologis were worth $8,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PLD. State Street Corp increased its holdings in shares of Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after buying an additional 767,609 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after acquiring an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Prologis by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after acquiring an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares during the period. Finally, Swedbank AB lifted its holdings in shares of Prologis by 1.8% during the fourth quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock valued at $486,514,000 after purchasing an additional 80,575 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of PLD stock opened at $121.01 on Friday. The firm has a market cap of $112.16 billion, a P/E ratio of 30.25, a PEG ratio of 2.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The stock’s 50-day moving average is $112.56 and its two-hundred day moving average is $118.03.

Prologis Increases Dividend

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

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction 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 can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PLD. Scotiabank dropped their price target 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. Wolfe Research dropped their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Barclays raised their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, 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 research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently 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.