Sowell Financial Services LLC Takes Position in Prologis, Inc. (NYSE:PLD)

Sowell Financial Services LLC bought a new stake in Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,474 shares of the real estate investment trust’s stock, valued at approximately $1,213,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. raised its holdings in Prologis by 77.1% in the 3rd quarter. Assetmark Inc. now owns 53,165 shares of the real estate investment trust’s stock valued at $6,714,000 after acquiring an additional 23,140 shares during the period. Atria Investments Inc raised its holdings in Prologis by 16.1% in the 3rd quarter. Atria Investments Inc now owns 104,702 shares of the real estate investment trust’s stock valued at $13,222,000 after acquiring an additional 14,558 shares during the period. Mesirow Financial Investment Management Inc. raised its holdings in Prologis by 104.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 8,298 shares of the real estate investment trust’s stock valued at $1,048,000 after acquiring an additional 4,233 shares during the period. Sigma Planning Corp raised its holdings in Prologis by 5.0% in the 3rd quarter. Sigma Planning Corp now owns 7,809 shares of the real estate investment trust’s stock valued at $986,000 after acquiring an additional 372 shares during the period. Finally, Legacy Capital Wealth Partners LLC raised its holdings in Prologis by 101.2% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 5,724 shares of the real estate investment trust’s stock valued at $723,000 after acquiring an additional 2,879 shares during the period. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PLD has been the topic of several research analyst reports. Wolfe Research lowered their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Mizuho lowered their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. UBS Group increased their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Truist Financial increased their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

NYSE PLD opened at $117.97 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $109.34 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 2.70 and a beta of 1.09. The firm’s 50 day simple moving average is $116.22 and its 200 day simple moving average is $117.87. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.42%. Prologis’s dividend payout ratio is presently 101.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by 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.