Nicholson Wealth Management Group LLC Has $1.34 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Nicholson Wealth Management Group LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 174.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,671 shares of the real estate investment trust’s stock after acquiring an additional 8,051 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in Prologis were worth $1,339,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. ASB Consultores LLC grew its holdings in Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 86 shares in the last quarter. Principle Wealth Partners LLC boosted its position in Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after purchasing an additional 92 shares during the last quarter. DT Investment Partners LLC boosted its position in Prologis by 9.8% in the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 93 shares during the last quarter. Carmel Capital Partners LLC boosted its position in Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after purchasing an additional 94 shares during the last quarter. Finally, Berkshire Bank boosted its position in Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 95 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLD has been the topic of several research analyst reports. Wolfe Research cut their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada boosted their price objective on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Robert W. Baird boosted their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, Scotiabank cut their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. One research 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 stock has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

Shares of PLD opened at $120.90 on Friday. The stock’s 50-day simple moving average is $112.36 and its 200 day simple moving average is $118.01. The stock has a market capitalization of $112.05 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 2.71 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.34%. Prologis’s dividend payout ratio is 96.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.

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.