Raleigh Capital Management Inc. Has $1.60 Million Stake in Prologis, Inc. (NYSE:PLD)

Raleigh Capital Management Inc. lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 16.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,116 shares of the real estate investment trust’s stock after acquiring an additional 2,120 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Prologis were worth $1,598,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Semmax Financial Advisors Inc. bought a new stake in Prologis during the second quarter worth approximately $27,000. Sunbelt Securities Inc. grew its stake in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $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 bought a new position in Prologis in the 3rd quarter worth $48,000. Finally, Coastline Trust Co acquired a new position in Prologis during the 3rd quarter worth $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PLD. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $124.00 to $123.00 in a research report on Monday, January 6th. BMO Capital Markets downgraded 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 report on Friday, December 6th. Barclays upped their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Wolfe Research lowered their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Scotiabank cut their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.67.

Prologis Stock Performance

Shares of NYSE:PLD opened at $115.16 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $106.66 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 3.25 and a beta of 1.09. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The business has a fifty day moving average of $110.31 and a 200-day moving average of $118.33.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.33%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 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.