RFG Bristol Wealth Advisors LLC Makes New Investment in Prologis, Inc. (NYSE:PLD)

RFG Bristol Wealth Advisors LLC bought a new position in Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 4,316 shares of the real estate investment trust’s stock, valued at approximately $456,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bridgewater Associates LP grew its holdings in Prologis by 4.0% during the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock worth $338,000 after acquiring an additional 103 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Prologis by 736.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 23,641 shares of the real estate investment trust’s stock worth $2,986,000 after purchasing an additional 20,815 shares during the period. Hilltop Holdings Inc. boosted its stake in shares of Prologis by 290.7% during the third quarter. Hilltop Holdings Inc. now owns 32,009 shares of the real estate investment trust’s stock valued at $4,042,000 after purchasing an additional 23,816 shares in the last quarter. HighTower Advisors LLC increased its holdings in Prologis by 19.7% during the third quarter. HighTower Advisors LLC now owns 169,928 shares of the real estate investment trust’s stock valued at $21,500,000 after buying an additional 27,923 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after buying an additional 2,138,693 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’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 completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

PLD has been the topic of a number of analyst reports. BMO Capital Markets downgraded 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. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. UBS Group raised their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada boosted their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Finally, Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Down 0.3 %

PLD stock opened at $111.49 on Wednesday. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. 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 firm’s fifty day moving average is $117.67 and its 200 day moving average is $115.98. The firm has a market cap of $103.33 billion, a PE ratio of 27.87, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is currently 101.00%.

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.