Hanson & Doremus Investment Management Buys 185 Shares of Prologis, Inc. (NYSE:PLD)

Hanson & Doremus Investment Management boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 42.2% in the fourth quarter, Holdings Channel reports. The firm owned 623 shares of the real estate investment trust’s stock after acquiring an additional 185 shares during the period. Hanson & Doremus Investment Management’s holdings in Prologis were worth $66,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. Sunbelt Securities Inc. lifted its stake in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the last quarter. Dunhill Financial LLC raised its holdings in Prologis by 239.5% in the 3rd 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 period. Hara Capital LLC acquired a new position in Prologis during the 3rd quarter worth $48,000. Coastline Trust Co bought a new stake in Prologis during the third quarter valued at about $52,000. Finally, Fortitude Family Office LLC grew its position 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 valued at $55,000 after purchasing an additional 240 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Prologis stock opened at $120.66 on Friday. The firm has a market capitalization of $111.75 billion, a P/E ratio of 30.17, a P/E/G ratio of 3.19 and a beta of 1.09. The stock has a fifty day moving average price of $110.83 and a two-hundred day moving average price of $118.42. Prologis, Inc. has a 52-week low of $100.82 and a 52-week 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.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.18%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PLD shares. Truist Financial boosted their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday. BTIG Research reduced their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Scotiabank decreased their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus price target of $128.78.

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.