Advisor Resource Council Invests $442,000 in Prologis, Inc. (NYSE:PLD)

Advisor Resource Council bought a new position in Prologis, Inc. (NYSE:PLD) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 3,318 shares of the real estate investment trust’s stock, valued at approximately $442,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Columbia Trust Co 01012016 boosted its holdings in Prologis by 16.0% during the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after acquiring an additional 723 shares during the period. Janney Capital Management LLC boosted its holdings in Prologis by 18.8% during the 4th quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust’s stock valued at $3,182,000 after acquiring an additional 3,773 shares during the period. Cyndeo Wealth Partners LLC boosted its holdings in Prologis by 39.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after acquiring an additional 11,882 shares during the period. Atalanta Sosnoff Capital LLC purchased a new position in Prologis during the 4th quarter valued at $18,551,000. Finally, DNB Asset Management AS boosted its holdings in Prologis by 17.1% during the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after acquiring an additional 42,073 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.1 %

Prologis stock opened at $113.30 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The business’s 50-day simple moving average is $108.66 and its two-hundred day simple moving average is $121.39. The company has a market cap of $104.90 billion, a PE ratio of 33.13, a PEG ratio of 2.52 and a beta of 1.06. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

Prologis Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PLD. Scotiabank decreased their target price on Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. JPMorgan Chase & Co. decreased their target price on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Royal Bank of Canada decreased their target price on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. The Goldman Sachs Group decreased their target price on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Robert W. Baird decreased their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.76.

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.