Pinnacle Wealth Management Advisory Group LLC Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Pinnacle Wealth Management Advisory Group LLC lifted its position in Prologis, Inc. (NYSE:PLD) by 33.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,760 shares of the real estate investment trust’s stock after purchasing an additional 949 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Prologis were worth $501,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PLD. Columbia Trust Co 01012016 boosted its stake in shares of 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 purchasing an additional 723 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its position in Prologis by 39.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after purchasing an additional 11,882 shares during the period. DNB Asset Management AS increased its position in Prologis by 17.1% during the fourth 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 last quarter. Grassi Investment Management lifted its stake in shares of Prologis by 31.8% in the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after purchasing an additional 60,900 shares during the period. Finally, Desjardins Global Asset Management Inc. increased its stake in shares of Prologis by 255.0% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after purchasing an additional 11,582 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on PLD. BMO Capital Markets cut Prologis from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $145.00 to $112.00 in a report on Monday, April 22nd. TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Raymond James increased their price objective on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. UBS Group dropped their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. reduced their price target on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Price Performance

Shares of PLD traded up $1.93 during trading hours on Thursday, reaching $107.81. The company had a trading volume of 2,572,957 shares, compared to its average volume of 3,547,635. Prologis, Inc. has a 12-month low of $96.64 and a 12-month 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 company has a market capitalization of $99.81 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 2.20 and a beta of 1.05. The firm has a 50 day simple moving average of $121.06 and a 200-day simple moving average of $121.90.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.56%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s payout ratio is presently 112.28%.

Prologis 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.