Royal Fund Management LLC Takes Position in Prologis, Inc. (NYSE:PLD)

Royal Fund Management LLC bought a new position in Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,900 shares of the real estate investment trust’s stock, valued at approximately $1,469,000.

Several other hedge funds have also modified their holdings of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Prologis by 145.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after acquiring an additional 2,138,693 shares during the period. AMF Tjanstepension AB raised its stake in Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after acquiring an additional 1,365,811 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Prologis by 547.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,034,000 shares of the real estate investment trust’s stock worth $116,129,000 after acquiring an additional 874,411 shares during the period. Finally, Cardano Risk Management B.V. acquired a new stake in Prologis during the 3rd quarter worth about $109,579,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLD. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Barclays upped their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Scotiabank decreased their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th. Truist Financial dropped their target price on Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a report on Friday. Finally, BTIG Research reduced their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Trading Down 1.3 %

Shares of PLD stock opened at $109.51 on Tuesday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The firm has a market capitalization of $101.43 billion, a P/E ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09. The stock’s fifty day moving average is $110.34 and its two-hundred day moving average is $118.36. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.51%. Prologis’s payout ratio is presently 116.01%.

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.