Private Advisor Group LLC Has $8.05 Million Holdings in Prologis, Inc. (NYSE:PLD)

Private Advisor Group LLC grew its stake in Prologis, Inc. (NYSE:PLD) by 113.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,386 shares of the real estate investment trust’s stock after buying an additional 32,128 shares during the period. Private Advisor Group LLC’s holdings in Prologis were worth $8,049,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thompson Investment Management Inc. bought a new position in shares of Prologis in the fourth quarter worth about $28,000. Salem Investment Counselors Inc. bought a new position in Prologis during the fourth quarter valued at about $37,000. FNY Investment Advisers LLC bought a new position in Prologis during the fourth quarter valued at about $39,000. Valley National Advisers Inc. increased its stake in Prologis by 178.6% during the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 250 shares during the period. Finally, Webster Bank N. A. increased its stake in Prologis by 3,600.0% during the fourth quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 324 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PLD shares. Robert W. Baird lowered their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. BMO Capital Markets lowered Prologis from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $145.00 to $112.00 in a research note on Monday, April 22nd. Morgan Stanley upped their price objective on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. lowered their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group lowered their price objective on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Stock Performance

Shares of PLD traded down $1.89 during mid-day trading on Wednesday, hitting $105.87. 476,809 shares of the company’s stock were exchanged, compared to its average volume of 3,530,256. The stock’s 50-day simple moving average is $121.06 and its 200-day simple moving average is $121.90. The firm has a market cap of $98.02 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. 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.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.63%. Prologis’s dividend payout ratio (DPR) 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 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.