Simplicity Wealth LLC purchased a new position in shares of Prologis, Inc. (NYSE:PLD – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,339 shares of the real estate investment trust’s stock, valued at approximately $1,607,000.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Family Legacy Inc. boosted its position in Prologis by 0.5% during the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after purchasing an additional 87 shares during the period. Lockerman Financial Group Inc. boosted its position in Prologis by 2.0% during the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock worth $587,000 after purchasing an additional 87 shares during the period. Hixon Zuercher LLC boosted its position in Prologis by 0.6% during the 4th quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock worth $1,950,000 after purchasing an additional 88 shares during the period. AdvisorNet Financial Inc boosted its position in Prologis by 11.0% during the 4th quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 90 shares during the period. Finally, CVA Family Office LLC boosted its position in Prologis by 21.4% during the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 94 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Robert W. Baird decreased their price objective on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Evercore ISI decreased their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research report on Thursday, April 18th. Finally, Scotiabank decreased their price objective on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Thursday. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.35.
View Our Latest Report on Prologis
Prologis Stock Performance
PLD traded up $0.55 on Monday, hitting $112.05. 3,941,416 shares of the company’s stock were exchanged, compared to its average volume of 3,571,027. The firm has a market cap of $103.74 billion, a PE ratio of 32.76, a P/E/G ratio of 2.32 and a beta of 1.05. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a fifty day moving average of $116.64 and a two-hundred day moving average of $122.44. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51.
Prologis Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.43%. Prologis’s dividend payout ratio (DPR) is 112.28%.
About Prologis
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.
See Also
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