Prologis, Inc. (NYSE:PLD) Shares Acquired by Naviter Wealth LLC

Naviter Wealth LLC boosted its holdings in Prologis, Inc. (NYSE:PLD) by 45.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,166 shares of the real estate investment trust’s stock after purchasing an additional 18,714 shares during the quarter. Prologis makes up 1.6% of Naviter Wealth LLC’s portfolio, making the stock its 12th biggest holding. Naviter Wealth LLC’s holdings in Prologis were worth $8,020,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PLD. Thompson Investment Management Inc. purchased a new position in shares of Prologis in the 4th quarter worth $28,000. FinTrust Capital Advisors LLC increased its position in Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 232 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in Prologis during the fourth quarter worth approximately $37,000. FNY Investment Advisers LLC acquired a new stake in shares of Prologis in the fourth quarter worth $39,000. Finally, Valley National Advisers Inc. raised its stake in shares of Prologis by 178.6% in the 3rd 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. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

NYSE:PLD traded up $0.60 on Monday, reaching $104.66. The stock had a trading volume of 1,037,265 shares, compared to its average volume of 3,453,014. The stock has a fifty day moving average price of $125.06 and a 200-day moving average price of $122.01. 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 1-year low of $96.64 and a 1-year high of $137.52. The company has a market capitalization of $96.90 billion, a P/E ratio of 30.72, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.67%. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is 112.28%.

Wall Street Analyst Weigh In

PLD has been the topic of several analyst reports. Raymond James lifted their target price on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. Royal Bank of Canada lifted their price objective on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. UBS Group decreased their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Argus cut their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, TheStreet raised Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. One 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.53.

About Prologis

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.