Avestar Capital LLC Buys 974 Shares of Prologis, Inc. (NYSE:PLD)

Avestar Capital LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 22.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,336 shares of the real estate investment trust’s stock after acquiring an additional 974 shares during the period. Avestar Capital LLC’s holdings in Prologis were worth $564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AMF Tjanstepension AB grew its position in Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Prologis by 29.6% in the third quarter. Exchange Traded Concepts LLC now owns 6,229 shares of the real estate investment trust’s stock worth $787,000 after buying an additional 1,424 shares in the last quarter. CX Institutional grew its holdings in shares of Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 88 shares during the last quarter. Creative Planning increased its position in shares of Prologis by 18.3% during the third quarter. Creative Planning now owns 100,154 shares of the real estate investment trust’s stock valued at $12,647,000 after acquiring an additional 15,510 shares in the last quarter. Finally, NBC Securities Inc. raised its holdings in Prologis by 20.1% in the 3rd quarter. NBC Securities Inc. now owns 1,848 shares of the real estate investment trust’s stock worth $233,000 after acquiring an additional 309 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Mizuho dropped their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Scotiabank reduced their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Robert W. Baird upped their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Trading Up 1.1 %

Shares of PLD stock opened at $121.07 on Friday. 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 has a market cap of $112.13 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The firm has a fifty day moving average price of $111.39 and a 200-day moving average price of $118.15.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.17%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is presently 96.00%.

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.