Investment Advisory Group LLC Boosts Stock Position in Prologis, Inc. (NYSE:PLD)

Investment Advisory Group LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,236 shares of the real estate investment trust’s stock after purchasing an additional 200 shares during the quarter. Investment Advisory Group LLC’s holdings in Prologis were worth $765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. State Street Corp increased its position in Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after buying an additional 767,609 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Prologis by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after acquiring an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Prologis by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after acquiring an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Prologis by 534.7% in the 3rd 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 valued at $1,280,928,000 after acquiring an additional 8,545,336 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Prologis by 145.0% during the third 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 purchasing an additional 2,138,693 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of analyst reports. Truist Financial cut their price target on Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a report on Friday, January 17th. BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Mizuho cut their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Raymond James reiterated an “outperform” rating and issued a $125.00 target price (down from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Trading Up 7.1 %

NYSE:PLD opened at $117.27 on Wednesday. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $110.34 and a 200-day moving average price of $118.36. The stock has a market cap of $108.62 billion, a price-to-earnings ratio of 35.43, a P/E/G ratio of 3.01 and a beta of 1.09.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.27%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 116.01%.

About Prologis

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.