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

Legacy Wealth Asset Management LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.9% in the first quarter, Holdings Channel reports. The institutional investor owned 7,167 shares of the real estate investment trust’s stock after buying an additional 204 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Prologis were worth $933,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLD. Valeo Financial Advisors LLC grew its position in Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after buying an additional 48,850,448 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Prologis by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after purchasing an additional 365,904 shares during the last quarter. Principal Financial Group Inc. raised its stake in Prologis by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock valued at $1,642,997,000 after purchasing an additional 123,902 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Prologis by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock valued at $1,268,992,000 after purchasing an additional 175,276 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Prologis during the 4th quarter worth $1,074,648,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PLD has been the subject of several research analyst reports. Evercore ISI dropped their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. The Goldman Sachs Group cut their target price on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Argus reduced their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. StockNews.com lowered shares of Prologis from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Finally, Barclays reduced their target price on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $129.76.

Prologis Trading Up 0.1 %

Shares of PLD opened at $113.30 on Friday. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $108.86 and its 200-day moving average price is $121.34. The firm has a market capitalization of $104.90 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 2.52 and a beta of 1.06.

Prologis Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.39%. Prologis’s payout ratio is 112.28%.

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.