Legacy Financial Advisors Inc. Boosts Stake in Prologis, Inc. (NYSE:PLD)

Legacy Financial Advisors Inc. raised its holdings in Prologis, Inc. (NYSE:PLD) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,041 shares of the real estate investment trust’s stock after purchasing an additional 219 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Prologis were worth $539,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. acquired a new stake in shares of Prologis in the fourth quarter valued at $28,000. FinTrust Capital Advisors LLC grew its stake in shares of Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 232 shares in the last quarter. Salem Investment Counselors Inc. acquired a new stake in shares of Prologis in the fourth quarter valued at $37,000. FNY Investment Advisers LLC acquired a new stake in shares of Prologis in the fourth quarter valued at $39,000. Finally, Valley National Advisers Inc. grew its stake in shares of Prologis by 178.6% in the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Raymond James boosted their target price on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $145.00 to $112.00 in a research note on Monday, April 22nd. The Goldman Sachs Group lowered their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. StockNews.com lowered shares of Prologis from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Finally, UBS Group decreased their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.35.

Prologis Trading Up 1.3 %

NYSE PLD traded up $1.36 during mid-day trading on Friday, reaching $105.89. 3,517,673 shares of the stock were exchanged, compared to its average volume of 4,890,799. The stock has a market capitalization of $98.04 billion, a PE ratio of 30.96, a PEG ratio of 2.17 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The business’s fifty day simple moving average is $122.11 and its 200 day simple moving average is $121.63.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given 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 3.63%. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is currently 112.28%.

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.