Atlantic Family Wealth LLC Buys New Stake in Prologis, Inc. (NYSE:PLD)

Atlantic Family Wealth LLC bought a new stake in Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,904 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in Prologis in the 4th quarter worth $30,000. Dunhill Financial LLC grew its position in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the last quarter. Hara Capital LLC acquired a new stake in Prologis in the 3rd quarter worth $48,000. Coastline Trust Co acquired a new stake in Prologis in the 3rd quarter worth $52,000. Finally, Asset Planning Inc acquired a new stake in Prologis in the 4th quarter worth $53,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prologis

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

Prologis Trading Up 0.1 %

Shares of NYSE PLD opened at $121.01 on Friday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a market cap of $112.16 billion, a PE ratio of 30.25, a P/E/G ratio of 2.70 and a beta of 1.10. 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 company has a 50-day moving average of $112.56 and a two-hundred day moving average of $118.01.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given 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 annualized dividend and a dividend yield of 3.34%. Prologis’s payout ratio is currently 96.00%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Truist Financial lifted their target price 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. Mizuho cut their price target 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. Finally, Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target of $128.78.

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.