Merit Financial Group LLC Grows Stock Position in Prologis, Inc. (NYSE:PLD)

Merit Financial Group LLC grew its position in shares of Prologis, Inc. (NYSE:PLD) by 303.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,851 shares of the real estate investment trust’s stock after purchasing an additional 7,412 shares during the period. Merit Financial Group LLC’s holdings in Prologis were worth $1,041,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Coronation Fund Managers Ltd. acquired a new stake in shares of Prologis during the second quarter worth approximately $878,000. Edgestream Partners L.P. bought a new stake in shares of Prologis in the 2nd quarter worth about $241,000. ProShare Advisors LLC raised its stake in shares of Prologis by 5.7% in the 2nd quarter. ProShare Advisors LLC now owns 177,022 shares of the real estate investment trust’s stock valued at $19,881,000 after purchasing an additional 9,579 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of Prologis by 27,100.0% during the second quarter. Frank Rimerman Advisors LLC now owns 7,616 shares of the real estate investment trust’s stock worth $855,000 after purchasing an additional 7,588 shares during the last quarter. Finally, Gabelli Funds LLC grew its stake in Prologis by 3.6% in the second quarter. Gabelli Funds LLC now owns 3,205 shares of the real estate investment trust’s stock worth $360,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PLD. Mizuho reduced their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Wolfe Research lowered their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. BTIG Research lowered their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, Truist Financial cut their target price on shares of Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.67.

Prologis Trading Up 7.1 %

Prologis stock opened at $117.27 on Wednesday. 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 $108.62 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 3.01 and a beta of 1.09. The firm has a 50 day simple moving average of $110.25 and a 200-day simple moving average of $118.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is presently 116.01%.

About Prologis

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.