Cornerstone Wealth Group LLC Makes New $207,000 Investment in Prologis, Inc. (NYSE:PLD)

Cornerstone Wealth Group LLC purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,588 shares of the real estate investment trust’s stock, valued at approximately $207,000.

A number of other hedge funds have also recently modified their holdings of the business. Optimum Investment Advisors purchased a new position in shares of Prologis during the 1st quarter valued at about $26,000. True Wealth Design LLC purchased a new stake in shares of Prologis in the fourth quarter worth $27,000. Thompson Investment Management Inc. bought a new stake in shares of Prologis during the 4th quarter valued at $28,000. JFS Wealth Advisors LLC lifted its stake in shares of Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 168 shares in the last quarter. Finally, Clear Investment Research LLC boosted its holdings in Prologis by 188.1% in the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 158 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.9 %

NYSE PLD traded up $0.96 on Friday, hitting $112.31. 5,436,382 shares of the stock were exchanged, compared to its average volume of 4,492,900. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The firm has a market capitalization of $103.98 billion, a P/E ratio of 32.84, a P/E/G ratio of 2.50 and a beta of 1.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a fifty day moving average price of $108.14 and a two-hundred day moving average price of $121.83.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Monday, June 17th. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PLD shares. Barclays lowered their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Mizuho dropped their price target on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. The Goldman Sachs Group cut their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 22nd. BMO Capital Markets lowered shares of Prologis from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price 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.