Axxcess Wealth Management LLC Decreases Holdings in Prologis, Inc. (NYSE:PLD)

Axxcess Wealth Management LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 45.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,246 shares of the real estate investment trust’s stock after selling 1,897 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Prologis were worth $237,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in shares of Prologis by 1.4% during the 3rd quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after acquiring an additional 767,609 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after acquiring an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Prologis by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock worth $1,099,569,000 after acquiring an additional 173,531 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Prologis by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock valued at $631,266,000 after buying an additional 32,644 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Scotiabank reduced 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. BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Truist Financial upped their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Robert W. Baird upped their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Trading Down 3.4 %

NYSE PLD opened at $108.27 on Friday. The firm has a market capitalization of $100.35 billion, a price-to-earnings ratio of 27.07, 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, Inc. has a one year low of $100.82 and a one year high of $132.57. The company’s 50 day moving average price is $117.54 and its 200 day moving average price is $116.99.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.73%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Insider Buying and Selling at Prologis

In other Prologis 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 transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.