Jones Financial Companies Lllp Buys 30,070 Shares of Prologis, Inc. (NYSE:PLD)

Jones Financial Companies Lllp boosted its position in Prologis, Inc. (NYSE:PLD) by 44.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 97,230 shares of the real estate investment trust’s stock after acquiring an additional 30,070 shares during the period. Jones Financial Companies Lllp’s holdings in Prologis were worth $10,277,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PLD. State Street Corp raised its stake in shares of Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after acquiring an additional 767,609 shares in the last quarter. Geode Capital Management LLC grew its holdings in Prologis by 0.9% in the third 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 purchasing an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Prologis by 4.5% during the third 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 purchasing an additional 441,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Prologis by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock valued at $631,266,000 after purchasing an additional 32,644 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Down 0.4 %

Shares of PLD opened at $123.48 on Tuesday. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a market capitalization of $114.45 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.70 and a beta of 1.10. The stock’s 50-day moving average price is $114.66 and its 200-day moving average price is $118.00. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.27%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s 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 sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PLD. BTIG Research dropped their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Mizuho dropped their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Truist Financial increased their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Scotiabank cut their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average 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.