Merit Financial Group LLC Boosts Stake in Prologis, Inc. (NYSE:PLD)

Merit Financial Group LLC raised its position in shares of Prologis, Inc. (NYSE:PLD) by 30.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,650 shares of the real estate investment trust’s stock after buying an additional 1,092 shares during the quarter. Merit Financial Group LLC’s holdings in Prologis were worth $620,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Family Legacy Inc. increased its stake in Prologis by 0.5% during the fourth quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after acquiring an additional 87 shares during the last quarter. Lockerman Financial Group Inc. raised its holdings in Prologis by 2.0% during the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock valued at $587,000 after buying an additional 87 shares during the period. Hixon Zuercher LLC lifted its position in Prologis by 0.6% in the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock worth $1,950,000 after buying an additional 88 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in Prologis by 11.0% during the fourth quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 90 shares during the period. Finally, Holistic Financial Partners increased its position in Prologis by 5.3% during the third quarter. Holistic Financial Partners now owns 1,926 shares of the real estate investment trust’s stock valued at $216,000 after acquiring an additional 97 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lowered shares of Prologis from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. Barclays cut their target price on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Robert W. Baird dropped their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Royal Bank of Canada cut their price objective on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Stock Down 1.1 %

Shares of NYSE PLD opened at $104.70 on Tuesday. The stock has a market capitalization of $96.94 billion, a PE ratio of 30.61, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The stock’s fifty day simple moving average is $121.55 and its two-hundred day simple moving average is $121.86.

Prologis Increases Dividend

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