Covestor Ltd Has $118,000 Stock Holdings in Prologis, Inc. (NYSE:PLD)

Covestor Ltd decreased its position in Prologis, Inc. (NYSE:PLD) by 43.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,120 shares of the real estate investment trust’s stock after selling 860 shares during the period. Covestor Ltd’s holdings in Prologis were worth $118,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PLD. Pine Valley Investments Ltd Liability Co increased its holdings in shares of Prologis by 14.1% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 18,163 shares of the real estate investment trust’s stock worth $2,294,000 after acquiring an additional 2,245 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Prologis in the 3rd quarter valued at approximately $989,000. Wilmington Savings Fund Society FSB bought a new stake in Prologis during the 3rd quarter worth approximately $1,348,000. Destination Wealth Management raised its holdings in Prologis by 121.5% during the 3rd quarter. Destination Wealth Management now owns 4,504 shares of the real estate investment trust’s stock worth $569,000 after buying an additional 2,471 shares during the period. Finally, Tidal Investments LLC lifted its stake in Prologis by 12.7% in the third quarter. Tidal Investments LLC now owns 200,250 shares of the real estate investment trust’s stock valued at $25,288,000 after buying an additional 22,516 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 1.3 %

Prologis stock opened at $96.14 on Friday. 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 50-day simple moving average of $113.34 and a 200 day simple moving average of $114.06. The stock has a market capitalization of $89.12 billion, a P/E ratio of 24.04, a PEG ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were issued a dividend of $1.01 per share. 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. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.20%. Prologis’s payout ratio is presently 101.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PLD. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Robert W. Baird boosted their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Mizuho decreased their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Wolfe Research dropped their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued 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 a consensus rating of “Moderate Buy” and a consensus target price of $126.78.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.

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.