Summit Trail Advisors LLC Raises Holdings in Prologis, Inc. (NYSE:PLD)

Summit Trail Advisors LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,074 shares of the real estate investment trust’s stock after buying an additional 597 shares during the quarter. Summit Trail Advisors LLC’s holdings in Prologis were worth $1,210,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Thompson Investment Management Inc. acquired a new position in shares of Prologis during the 4th quarter worth $28,000. Salem Investment Counselors Inc. purchased a new position in shares of Prologis during the 4th quarter worth approximately $37,000. FNY Investment Advisers LLC acquired a new position in shares of Prologis during the 4th quarter worth approximately $39,000. Valley National Advisers Inc. grew its holdings in Prologis by 178.6% during the 3rd 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 during the last quarter. Finally, Webster Bank N. A. increased its position in Prologis by 3,600.0% during the fourth quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 324 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the subject of several analyst reports. Morgan Stanley boosted their target price on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Barclays lowered their target price on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Argus lowered their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Raymond James increased their target price on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.12.

Prologis Stock Down 1.1 %

NYSE PLD traded down $1.19 during trading hours on Monday, hitting $104.70. The company had a trading volume of 4,259,743 shares, compared to its average volume of 3,559,998. The firm’s 50 day moving average is $122.11 and its 200 day moving average is $121.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a market capitalization of $96.94 billion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 2.20 and a beta of 1.05.

Prologis Increases Dividend

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

Prologis Profile

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.