Advocate Group LLC Buys 398 Shares of Prologis, Inc. (NYSE:PLD)

Advocate Group LLC grew its stake in Prologis, Inc. (NYSE:PLD) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,198 shares of the real estate investment trust’s stock after acquiring an additional 398 shares during the quarter. Advocate Group LLC’s holdings in Prologis were worth $3,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Coronation Fund Managers Ltd. acquired a new position in shares of Prologis in the 2nd quarter valued at approximately $878,000. Gabelli Funds LLC grew its position in shares of Prologis by 3.6% in the 2nd quarter. Gabelli Funds LLC now owns 3,205 shares of the real estate investment trust’s stock valued at $360,000 after purchasing an additional 110 shares during the period. Marshall Wace LLP acquired a new position in shares of Prologis in the 2nd quarter valued at approximately $12,946,000. Fred Alger Management LLC boosted its position in Prologis by 5.5% during the 2nd quarter. Fred Alger Management LLC now owns 24,814 shares of the real estate investment trust’s stock worth $2,787,000 after acquiring an additional 1,297 shares during the last quarter. Finally, MBB Public Markets I LLC boosted its position in Prologis by 1,903.9% during the 2nd quarter. MBB Public Markets I LLC now owns 65,466 shares of the real estate investment trust’s stock worth $7,352,000 after acquiring an additional 62,199 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Raymond James reiterated an “outperform” rating and set a $125.00 price objective (down previously from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. cut their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $128.67.

Prologis Stock Performance

Prologis stock opened at $118.90 on Friday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $110.49 and its two-hundred day moving average price is $118.37. The stock has a market cap of $110.12 billion, a PE ratio of 29.73, a P/E/G ratio of 3.19 and a beta of 1.09.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio 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.