Wedbush Securities Inc. Has $1.21 Million Position in Prologis, Inc. (NYSE:PLD)

Wedbush Securities Inc. boosted its position in Prologis, Inc. (NYSE:PLD) by 12.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,433 shares of the real estate investment trust’s stock after purchasing an additional 1,293 shares during the quarter. Wedbush Securities Inc.’s holdings in Prologis were worth $1,208,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PLD. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $26,000. Dunhill Financial LLC grew 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 in the last quarter. Crowley Wealth Management Inc. acquired a new stake in Prologis in the 4th quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in Prologis during the 4th quarter worth about $30,000. Finally, Promus Capital LLC acquired a new position in shares of Prologis during the 4th quarter worth about $34,000. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

NYSE:PLD opened at $98.10 on Monday. Prologis, Inc. has a 52 week low of $95.34 and a 52 week high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm’s 50-day simple moving average is $116.86 and its 200 day simple moving average is $115.46. The firm has a market cap of $90.94 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 2.70 and a beta of 1.20.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.12%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PLD has been the topic of several analyst reports. BTIG Research dropped their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Truist Financial increased their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Scotiabank lowered their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Wolfe Research cut their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Royal Bank of Canada boosted their price objective on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.