Colton Groome Financial Advisors LLC Buys 137 Shares of Prologis, Inc. (NYSE:PLD)

Colton Groome Financial Advisors LLC lifted its stake in Prologis, Inc. (NYSE:PLD) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,047 shares of the real estate investment trust’s stock after buying an additional 137 shares during the period. Colton Groome Financial Advisors LLC’s holdings in Prologis were worth $1,439,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Stewart & Patten Co. LLC lifted its stake in shares of Prologis by 1.0% in the first quarter. Stewart & Patten Co. LLC now owns 127,734 shares of the real estate investment trust’s stock valued at $16,634,000 after buying an additional 1,270 shares during the period. Oak Thistle LLC bought a new position in Prologis during the first quarter worth about $200,000. Miracle Mile Advisors LLC lifted its stake in Prologis by 1.3% during the first quarter. Miracle Mile Advisors LLC now owns 14,236 shares of the real estate investment trust’s stock worth $1,854,000 after purchasing an additional 183 shares during the period. Kowal Investment Group LLC bought a new position in Prologis during the first quarter worth about $210,000. Finally, Red Door Wealth Management LLC lifted its stake in Prologis by 7.9% during the first quarter. Red Door Wealth Management LLC now owns 29,850 shares of the real estate investment trust’s stock worth $3,887,000 after purchasing an additional 2,177 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 0.3 %

PLD traded down $0.36 during trading on Monday, reaching $111.95. 2,380,745 shares of the company’s stock were exchanged, compared to its average volume of 3,755,133. The company’s fifty day moving average price is $108.14 and its 200-day moving average price is $121.77. 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 fifty-two week low of $96.64 and a fifty-two week high of $137.52. The firm has a market capitalization of $103.65 billion, a PE ratio of 32.73, a P/E/G ratio of 2.50 and a beta of 1.07.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s dividend payout ratio is presently 112.28%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PLD shares. Royal Bank of Canada cut their price target on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. The Goldman Sachs Group cut their target price on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. UBS Group cut their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Evercore ISI cut their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. Finally, StockNews.com cut shares of Prologis from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average price target of $129.76.

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.