HB Wealth Management LLC Raises Stake in Prologis, Inc. (NYSE:PLD)

HB Wealth Management LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,550 shares of the real estate investment trust’s stock after acquiring an additional 967 shares during the quarter. HB Wealth Management LLC’s holdings in Prologis were worth $1,432,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Semmax Financial Advisors Inc. bought a new stake in Prologis in the second quarter worth $27,000. Sunbelt Securities Inc. increased its holdings in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the period. Dunhill Financial LLC lifted its stake in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares during the last quarter. Hara Capital LLC purchased a new stake in Prologis during the 3rd quarter valued at about $48,000. Finally, Coastline Trust Co bought a new position in Prologis during the 3rd quarter worth approximately $52,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Scotiabank dropped their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Wolfe Research cut their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $128.67.

Prologis Stock Down 1.3 %

Shares of NYSE:PLD opened at $109.51 on Tuesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $110.34 and a two-hundred day simple moving average of $118.36. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The stock has a market capitalization of $101.43 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 116.01%.

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.