RBA Wealth Management LLC Buys 765 Shares of Prologis, Inc. (NYSE:PLD)

RBA Wealth Management LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,752 shares of the real estate investment trust’s stock after buying an additional 765 shares during the quarter. RBA Wealth Management LLC’s holdings in Prologis were worth $3,990,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Dunhill Financial LLC grew its position 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 worth $33,000 after buying an additional 182 shares during the period. Hara Capital LLC bought a new stake in Prologis in the 3rd quarter valued at approximately $48,000. Coastline Trust Co bought a new stake in Prologis in the 3rd quarter valued at approximately $52,000. Fortitude Family Office LLC lifted its stake in Prologis by 120.6% in the 3rd 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 in the last quarter. Finally, Hanson & Doremus Investment Management lifted its stake in Prologis by 42.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 185 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

Shares of Prologis stock opened at $117.88 on Tuesday. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The stock has a market capitalization of $109.17 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09. The company has a fifty day moving average of $111.03 and a 200-day moving average of $118.37. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.26%. Prologis’s payout ratio is currently 96.00%.

Analyst Upgrades and Downgrades

PLD has been the topic of several research reports. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday. UBS Group upped their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. BTIG Research dropped their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, Scotiabank dropped their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.