Beacon Financial Advisory LLC significantly increased its investment in Prologis, Inc. (NYSE: PLD) during the third quarter of 2023. According to the firm’s latest Form 13F filing with the Securities and Exchange Commission (SEC), Beacon raised its holdings in the real estate investment trust by an impressive 178.2%. The firm now owns 11,800 shares of Prologis after acquiring an additional 7,559 shares in this period, valuing its total stake at approximately $1.35 million.
Several other institutional investors and hedge funds have also adjusted their positions in Prologis. For instance, Clayton Financial Group LLC established a new position in the company valued at around $26,000. Silver Oak Securities purchased shares worth approximately $36,000, while Barrett & Company Inc. and Twin Peaks Wealth Advisors LLC each invested about $44,000 during the second quarter. Notably, approximately 93.50% of Prologis stock is owned by institutional investors.
Analyst Ratings and Performance Overview
Prologis has garnered attention from multiple brokerages, with analysts issuing a range of ratings. Barclays reaffirmed an “overweight” rating, setting a price target of $139.00. BTIG Research increased its price target from $134.00 to $155.00, assigning a “buy” rating. Meanwhile, UBS Group raised its target from $137.00 to $144.00 with a “buy” recommendation. Additionally, Industrial Alliance Securities set a target price at $119.00.
The consensus among analysts is a “Moderate Buy,” with one analyst rating it as a Strong Buy, eleven as Buy, and seven as Hold. MarketBeat reports a target price consensus of $132.31.
In terms of stock performance, shares of Prologis opened at $133.21 on the latest trading day. The stock has a fifty-day moving average price of $127.86 and a two-hundred-day moving average of $118.49. Prologis has a market capitalization of approximately $123.74 billion and a price-to-earnings (P/E) ratio of 38.84.
Insider Transactions and Dividend Information
Recent insider activity at Prologis has also drawn interest. Director Cristina Gabriela Bita sold 621 shares at an average price of $127.60, totaling $79,239.60. After this sale, Bita holds 8,208 shares, valued at about $1,047,340.80, reflecting a 7.03% decrease in her ownership of the stock.
Another significant transaction involved Director James B. Connor, who sold 80,000 shares for $10,126,400.00 at an average price of $126.58. In total, insiders sold 81,121 shares worth approximately $10,267,210 during the last quarter, with insiders owning 0.57% of the company’s stock.
Prologis also declared a quarterly dividend of $1.01, which was paid on December 31, 2023, to shareholders recorded on December 16, 2023. This dividend represents an annualized rate of $4.04 and a yield of 3.0%. The company’s dividend payout ratio stands at 117.78%.
Prologis, headquartered in San Francisco, is a leading real estate investment trust specializing in logistics and distribution facilities. The company focuses on developing high-quality industrial real estate that supports supply chain infrastructure for various sectors, including e-commerce, retail, and manufacturing, operating globally across the Americas, Europe, and Asia Pacific.
