PFG Investments LLC Boosts Position in Prologis, Inc. (NYSE:PLD)

PFG Investments LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,554 shares of the real estate investment trust’s stock after purchasing an additional 1,317 shares during the quarter. PFG Investments LLC’s holdings in Prologis were worth $2,278,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PLD. Sunbelt Securities Inc. boosted its position in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares in the last quarter. Dunhill Financial LLC raised its holdings in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the last quarter. Hara Capital LLC acquired a new position in shares of Prologis in the third quarter worth $48,000. Coastline Trust Co acquired a new position in shares of Prologis in the third quarter worth $52,000. Finally, Fortitude Family Office LLC raised its holdings in shares of Prologis by 120.6% in the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 240 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PLD shares. Mizuho cut their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. 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. Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Scotiabank dropped their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. Finally, BTIG Research dropped their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $128.67.

Prologis Price Performance

Shares of NYSE PLD opened at $118.90 on Monday. The company has a market capitalization of $110.12 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 3.19 and a beta of 1.09. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The business has a 50-day moving average of $110.49 and a 200-day moving average of $118.39.

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 issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

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.