Tyche Wealth Partners LLC Has $273,000 Position in Prologis, Inc. (NYSE:PLD)

Tyche Wealth Partners LLC increased its position in Prologis, Inc. (NYSE:PLD) by 22.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,581 shares of the real estate investment trust’s stock after acquiring an additional 471 shares during the period. Tyche Wealth Partners LLC’s holdings in Prologis were worth $273,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Empirical Asset Management LLC increased its holdings in Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after buying an additional 52,963 shares during the last quarter. Sunflower Bank N.A. acquired a new position in Prologis in the third quarter worth approximately $249,000. Cardano Risk Management B.V. increased its holdings in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Prologis by 2.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after purchasing an additional 29,400 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new stake in Prologis during the third quarter worth approximately $1,051,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 0.3 %

Shares of PLD stock opened at $118.48 on Friday. The stock has a market cap of $109.73 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The stock has a fifty day moving average price of $111.09 and a 200 day moving average price of $118.30. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.24%. Prologis’s dividend payout ratio is currently 96.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on 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 directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of a number of recent analyst reports. UBS Group upped their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Robert W. Baird upped their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Wolfe Research decreased their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis 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.