Brookstone Capital Management Takes Position in Prologis, Inc. (NYSE:PLD)

Brookstone Capital Management purchased a new stake in shares of Prologis, Inc. (NYSE:PLD) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 1,708 shares of the real estate investment trust’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new stake in Prologis in the first quarter valued at approximately $26,000. True Wealth Design LLC purchased a new stake in Prologis in the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. purchased a new stake in Prologis in the fourth quarter valued at approximately $28,000. JFS Wealth Advisors LLC raised its position in Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares during the period. Finally, Clear Investment Research LLC raised its position in Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 158 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $113.21 on Wednesday. The company has a market cap of $104.81 billion, a P/E ratio of 33.08, a P/E/G ratio of 2.50 and a beta of 1.06. 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, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The business has a fifty day simple moving average of $108.29 and a 200-day simple moving average of $121.60.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PLD shares. JPMorgan Chase & Co. cut their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. The Goldman Sachs Group lowered their target price on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. BMO Capital Markets downgraded shares of Prologis from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $145.00 to $112.00 in a research note on Monday, April 22nd. UBS Group lowered their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Barclays decreased their price objective on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

Prologis Company 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.