PFG Advisors Purchases Shares of 1,625 Prologis, Inc. (NYSE:PLD)

PFG Advisors purchased a new stake in Prologis, Inc. (NYSE:PLD) during the first quarter, Holdings Channel reports. The institutional investor purchased 1,625 shares of the real estate investment trust’s stock, valued at approximately $212,000.

A number of other hedge funds also recently bought and sold shares of the stock. Valeo Financial Advisors LLC raised its position in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Prologis by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after purchasing an additional 365,904 shares in the last quarter. Principal Financial Group Inc. raised its position in Prologis by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock valued at $1,642,997,000 after purchasing an additional 123,902 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Prologis by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock valued at $1,268,992,000 after acquiring an additional 175,276 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Prologis in the 4th quarter valued at about $1,074,648,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock traded down $0.26 during midday trading on Friday, hitting $120.15. The company had a trading volume of 4,003,471 shares, compared to its average volume of 3,035,740. The company’s 50 day simple moving average is $110.40 and its 200 day simple moving average is $120.61. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The stock has a market cap of $111.24 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 2.85 and a beta of 1.06. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a $0.96 dividend. The ex-dividend date was Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.20%. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Analysts Set New Price Targets

PLD has been the topic of a number of recent analyst reports. Barclays dropped their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Royal Bank of Canada dropped their price objective on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Scotiabank dropped their price objective on Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 16th. Mizuho dropped their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Finally, Argus dropped their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.76.

About Prologis

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.