Trust Point Inc. Raises Stake in Prologis, Inc. (NYSE:PLD)

Trust Point Inc. raised its position in shares of Prologis, Inc. (NYSE:PLD) by 9.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,509 shares of the real estate investment trust’s stock after purchasing an additional 292 shares during the quarter. Trust Point Inc.’s holdings in Prologis were worth $371,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dunhill Financial LLC lifted its holdings in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares in the last quarter. Hara Capital LLC purchased a new position in Prologis during the third quarter valued at approximately $48,000. Coastline Trust Co purchased a new position in shares of Prologis in the third quarter worth $52,000. Fortitude Family Office LLC lifted its holdings 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 worth $55,000 after buying an additional 240 shares in the last quarter. Finally, Reston Wealth Management LLC purchased a new position in shares of Prologis in the third quarter worth $70,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.4 %

PLD stock opened at $118.82 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The stock has a market capitalization of $110.05 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The firm’s fifty day simple moving average is $111.07 and its two-hundred day simple moving average is $118.29.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is presently 96.00%.

Analysts Set New Price Targets

PLD has been the topic of several research analyst reports. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday. JPMorgan Chase & Co. lowered their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Barclays boosted their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, Royal Bank of Canada boosted their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Company 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.