LPL Financial LLC Has $100.57 Million Stock Position in Prologis, Inc. (NYSE:PLD)

LPL Financial LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 16.8% in the 4th quarter, HoldingsChannel reports. The fund owned 951,459 shares of the real estate investment trust’s stock after purchasing an additional 136,545 shares during the quarter. LPL Financial LLC’s holdings in Prologis were worth $100,569,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Empirical Asset Management LLC lifted its holdings in Prologis by 339.0% during the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. increased its position in Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after buying an additional 179,880 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Prologis in the third quarter valued at about $1,051,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Prologis by 1.3% in the third quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock valued at $92,048,000 after acquiring an additional 9,147 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Mizuho cut their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. BMO Capital Markets lowered 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. BTIG Research dropped their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Finally, Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred 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 sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Prologis Stock Down 0.9 %

Shares of PLD opened at $109.32 on Wednesday. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The stock has a fifty day moving average of $117.66 and a 200-day moving average of $116.67. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock has a market capitalization of $101.32 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.70 and a beta of 1.09.

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 $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.70%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is currently 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.