Oak Thistle LLC Invests $200,000 in Prologis, Inc. (NYSE:PLD)

Oak Thistle LLC purchased a new position in shares of Prologis, Inc. (NYSE:PLD) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,537 shares of the real estate investment trust’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLD. Kestra Advisory Services LLC bought a new stake in shares of Prologis during the 3rd quarter worth approximately $260,000. Ancora Advisors LLC lifted its holdings in shares of Prologis by 14.1% during the 3rd quarter. Ancora Advisors LLC now owns 874 shares of the real estate investment trust’s stock worth $98,000 after acquiring an additional 108 shares during the period. AQR Capital Management LLC increased its position in Prologis by 7.2% during the 3rd quarter. AQR Capital Management LLC now owns 232,416 shares of the real estate investment trust’s stock worth $26,079,000 after purchasing an additional 15,583 shares in the last quarter. Axxcess Wealth Management LLC increased its position in Prologis by 218.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 6,357 shares of the real estate investment trust’s stock worth $713,000 after purchasing an additional 4,359 shares in the last quarter. Finally, Alps Advisors Inc. increased its position in Prologis by 19.5% during the 3rd quarter. Alps Advisors Inc. now owns 2,880 shares of the real estate investment trust’s stock worth $323,000 after purchasing an additional 470 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PLD shares. BMO Capital Markets cut shares of Prologis from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. Royal Bank of Canada lowered their price objective on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Barclays lowered their price objective on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. JPMorgan Chase & Co. lowered their price objective on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Finally, UBS Group decreased their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.76.

Prologis Stock Down 0.3 %

Shares of NYSE PLD opened at $111.95 on Tuesday. The firm has a market cap of $103.65 billion, a PE ratio of 32.73, a P/E/G ratio of 2.50 and a beta of 1.06. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company’s fifty day simple moving average is $108.14 and its 200 day simple moving average is $121.77. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s dividend payout ratio is presently 112.28%.

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.