Thrivent Financial for Lutherans Increases Stake in Prologis, Inc. (NYSE:PLD)

Thrivent Financial for Lutherans raised its position in shares of Prologis, Inc. (NYSE:PLD) by 2.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 274,322 shares of the real estate investment trust’s stock after purchasing an additional 7,187 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Prologis were worth $29,025,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Pathstone Holdings LLC raised its holdings in Prologis by 0.6% in the 3rd quarter. Pathstone Holdings LLC now owns 99,551 shares of the real estate investment trust’s stock worth $12,571,000 after acquiring an additional 557 shares during the last quarter. Caprock Group LLC increased its holdings in shares of Prologis by 1.7% in the 3rd quarter. Caprock Group LLC now owns 14,226 shares of the real estate investment trust’s stock worth $1,797,000 after purchasing an additional 236 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Prologis by 6.5% in the third quarter. PNC Financial Services Group Inc. now owns 478,536 shares of the real estate investment trust’s stock worth $60,430,000 after purchasing an additional 29,015 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Prologis during the third quarter valued at $700,000. Finally, Strategy Asset Managers LLC boosted its position in shares of Prologis by 27.7% during the third quarter. Strategy Asset Managers LLC now owns 3,122 shares of the real estate investment trust’s stock valued at $394,000 after buying an additional 677 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Down 0.9 %

Prologis stock opened at $112.01 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57. The firm has a market capitalization of $103.81 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.70 and a beta of 1.09. The firm has a 50 day moving average of $117.44 and a 200 day moving average of $117.21.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 3.61%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PLD has been the subject of several research analyst reports. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Truist Financial lifted their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Mizuho cut their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada increased their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

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.