BankPlus Wealth Management LLC Acquires Shares of 2,537 Prologis, Inc. (NYSE:PLD)

BankPlus Wealth Management LLC bought a new position in shares of Prologis, Inc. (NYSE:PLD) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,537 shares of the real estate investment trust’s stock, valued at approximately $268,000.

Other large investors have also made changes to their positions in the company. Coronation Fund Managers Ltd. bought a new stake in Prologis during the 2nd quarter worth about $878,000. Mackenzie Financial Corp boosted its stake in Prologis by 4.2% in the second quarter. Mackenzie Financial Corp now owns 121,838 shares of the real estate investment trust’s stock valued at $13,684,000 after acquiring an additional 4,952 shares during the last quarter. Creative Planning grew its holdings in Prologis by 1.7% during the 2nd quarter. Creative Planning now owns 84,644 shares of the real estate investment trust’s stock worth $9,506,000 after acquiring an additional 1,401 shares during the period. Magnolia Capital Advisors LLC bought a new stake in shares of Prologis during the 2nd quarter valued at $1,826,000. Finally, NewEdge Advisors LLC lifted its stake in shares of Prologis by 16.6% in the 2nd quarter. NewEdge Advisors LLC now owns 75,000 shares of the real estate investment trust’s stock valued at $8,423,000 after purchasing an additional 10,687 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 2.0 %

Prologis stock opened at $121.29 on Tuesday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The firm has a market capitalization of $112.33 billion, a PE ratio of 30.32, a P/E/G ratio of 3.19 and a beta of 1.09. The company’s 50-day moving average is $110.49 and its 200-day moving average is $118.41.

Prologis Dividend Announcement

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

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of recent analyst reports. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and cut their target price for the company from $124.00 to $123.00 in a research note on Monday, January 6th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Raymond James reissued an “outperform” rating and set a $125.00 price target (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, Royal Bank of Canada boosted their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target 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.