Providence Capital Advisors LLC Raises Holdings in Prologis, Inc. (NYSE:PLD)

Providence Capital Advisors LLC raised its position in Prologis, Inc. (NYSE:PLD) by 0.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 67,159 shares of the real estate investment trust’s stock after purchasing an additional 454 shares during the period. Prologis accounts for approximately 1.4% of Providence Capital Advisors LLC’s 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 quarter.

A number of other large investors have also modified their holdings of PLD. Murphy & Mullick Capital Management Corp acquired a new position in Prologis in the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. purchased a new position in Prologis in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in Prologis during the fourth quarter worth $30,000. Dunhill Financial LLC raised its position in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the period. Finally, Whipplewood Advisors LLC acquired a new position in shares of Prologis in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 0.2 %

Shares of NYSE PLD opened at $110.95 on Friday. The business has a 50 day simple moving average of $117.72 and a 200 day simple moving average of $116.59. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The stock has a market cap of $102.84 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

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 dividend of $1.01 per share. This is a positive change 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 dividend yield of 3.64%. Prologis’s dividend payout ratio is 101.00%.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’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 transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents 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 at the SEC website. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on PLD. Scotiabank decreased their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. UBS Group increased their price target 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. Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Company Profile

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.