Providence Capital Advisors LLC Has $7.10 Million Holdings in Prologis, Inc. (NYSE:PLD)

Providence Capital Advisors LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,159 shares of the real estate investment trust’s stock after acquiring an additional 454 shares during the period. Prologis accounts for 1.4% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Providence Capital Advisors LLC’s holdings in Prologis were worth $7,099,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Principle Wealth Partners LLC raised its position in Prologis by 2.9% during the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after acquiring an additional 92 shares in the last quarter. Black Diamond Financial LLC grew its holdings in Prologis by 2.2% during the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock worth $449,000 after purchasing an additional 93 shares during the period. Berkshire Bank increased its position in Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after buying an additional 95 shares during the last quarter. J.Safra Asset Management Corp raised its stake in Prologis by 22.3% in the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 102 shares during the period. Finally, Bridgewater Associates LP boosted its stake in shares of 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 during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PLD shares. UBS Group raised their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Truist Financial boosted their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Performance

NYSE PLD opened at $110.95 on Friday. The firm’s 50 day simple moving average is $117.72 and its 200 day simple moving average is $116.59. The firm has a market capitalization of $102.84 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57.

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 paid a $1.01 dividend. This is a positive change 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 3.64%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was 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 owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by corporate 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.