Prologis, Inc. (NYSE:PLD) Stake Lifted by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its stake in Prologis, Inc. (NYSE:PLD) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,152 shares of the real estate investment trust’s stock after buying an additional 380 shares during the period. Apollon Wealth Management LLC’s holdings in Prologis were worth $1,919,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new stake in Prologis in the 4th quarter valued at about $100,000. Global X Japan Co. Ltd. increased its stake in shares of Prologis by 13.2% in the fourth quarter. Global X Japan Co. Ltd. now owns 3,107 shares of the real estate investment trust’s stock valued at $328,000 after purchasing an additional 363 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Prologis by 7.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 291,076 shares of the real estate investment trust’s stock valued at $30,767,000 after buying an additional 20,926 shares during the last quarter. Consolidated Portfolio Review Corp boosted its position in shares of Prologis by 61.8% during the fourth quarter. Consolidated Portfolio Review Corp now owns 5,428 shares of the real estate investment trust’s stock worth $574,000 after buying an additional 2,074 shares during the period. Finally, Telos Capital Management Inc. grew its holdings in Prologis by 2.0% in the 4th quarter. Telos Capital Management Inc. now owns 9,094 shares of the real estate investment trust’s stock worth $961,000 after buying an additional 181 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The shares were 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 owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

Prologis Stock Performance

NYSE PLD opened at $117.39 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The company’s fifty day moving average is $111.11 and its two-hundred day moving average is $118.18. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The firm has a market capitalization of $108.72 billion, a price-to-earnings ratio of 29.35, a P/E/G ratio of 2.64 and a beta of 1.10.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.27%. Prologis’s dividend payout ratio is currently 96.00%.

Analyst Ratings Changes

A number of research analysts have issued reports on PLD shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Robert W. Baird increased their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada boosted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. UBS Group upped their price target 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. Finally, BTIG Research lowered their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.