Congress Wealth Management LLC DE Purchases 1,449 Shares of Prologis, Inc. (NYSE:PLD)

Congress Wealth Management LLC DE grew its position in Prologis, Inc. (NYSE:PLD) by 7.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 20,930 shares of the real estate investment trust’s stock after acquiring an additional 1,449 shares during the period. Congress Wealth Management LLC DE’s holdings in Prologis were worth $2,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 worth $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Prologis during the fourth quarter worth about $254,876,000. Janus Henderson Group PLC raised its stake in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after purchasing an additional 2,138,693 shares during the period. Jennison Associates LLC lifted its holdings in Prologis by 395.3% in the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after purchasing an additional 829,504 shares in the last quarter. Finally, State Street Corp boosted its stake in Prologis by 1.4% in 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 purchasing an additional 767,609 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Up 1.7 %

Shares of NYSE PLD opened at $111.07 on Thursday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two 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 company has a market cap of $102.94 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 2.70 and a beta of 1.09. The business’s 50 day moving average price is $117.72 and its 200-day moving average price is $116.63.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.64%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated 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 completion of the sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Truist Financial raised their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Scotiabank decreased their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price 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.