Blue Trust Inc. Has $2.60 Million Position in Prologis, Inc. (NYSE:PLD)

Blue Trust Inc. lifted its stake in Prologis, Inc. (NYSE:PLD) by 18.8% during the fourth quarter, HoldingsChannel reports. The fund owned 24,573 shares of the real estate investment trust’s stock after purchasing an additional 3,887 shares during the quarter. Blue Trust Inc.’s holdings in Prologis were worth $2,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PLD. Sunbelt Securities Inc. grew its stake in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares in the last quarter. Dunhill Financial LLC lifted its holdings in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the last quarter. Hara Capital LLC acquired a new position in Prologis in the third quarter worth approximately $48,000. Coastline Trust Co bought a new position in Prologis during the third quarter valued at approximately $52,000. Finally, Fortitude Family Office LLC lifted its stake in 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 acquiring an additional 240 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. BTIG Research lowered their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Raymond James reissued an “outperform” rating and set a $125.00 price objective (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. Finally, Truist Financial boosted their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

Shares of PLD stock opened at $121.29 on Tuesday. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a market capitalization of $112.33 billion, a P/E ratio of 30.32, a P/E/G ratio of 3.19 and a beta of 1.09. The stock has a 50 day moving average of $110.49 and a two-hundred day moving average of $118.41. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.17%. Prologis’s dividend payout ratio is currently 96.00%.

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.