Presima Securities ULC Boosts Stock Position in Prologis, Inc. (NYSE:PLD)

Presima Securities ULC raised its position in shares of Prologis, Inc. (NYSE:PLD) by 31.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 412,660 shares of the real estate investment trust’s stock after purchasing an additional 97,833 shares during the quarter. Prologis accounts for 10.7% of Presima Securities ULC’s investment portfolio, making the stock its 2nd biggest holding. Presima Securities ULC’s holdings in Prologis were worth $43,618,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. increased its position in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the period. Dunhill Financial LLC boosted its holdings in shares of Prologis by 239.5% during the third 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 acquired a new stake in shares of Prologis in the third quarter valued at approximately $48,000. Coastline Trust Co bought a new position in Prologis in the 3rd quarter valued at about $52,000. Finally, Fortitude Family Office LLC grew its stake in shares of Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 240 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and lowered their price objective for the stock from $124.00 to $123.00 in a report on Monday, January 6th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Scotiabank reduced their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. Truist Financial dropped their price target on Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Finally, Barclays upped their target price on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $128.67.

Prologis Stock Up 0.3 %

Shares of PLD stock opened at $118.90 on Friday. The stock has a market cap of $110.12 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. The stock has a fifty day moving average price of $110.38 and a 200 day moving average price of $118.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76.

Prologis Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.23%. Prologis’s dividend payout ratio is presently 96.00%.

Prologis 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.