Certuity LLC Buys Shares of 2,565 Prologis, Inc. (NYSE:PLD)

Certuity LLC purchased a new position in Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,565 shares of the real estate investment trust’s stock, valued at approximately $342,000.

Several other hedge funds have also recently modified their holdings of PLD. Thompson Investment Management Inc. purchased a new position in Prologis in the 4th quarter worth about $28,000. FinTrust Capital Advisors LLC raised its holdings in shares of Prologis by 966.7% during the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in Prologis during the fourth quarter valued at approximately $37,000. FNY Investment Advisers LLC purchased a new stake in Prologis in the fourth quarter worth approximately $39,000. Finally, Valley National Advisers Inc. grew its position in Prologis by 178.6% in the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PLD shares. JPMorgan Chase & Co. lowered their price target on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. The Goldman Sachs Group dropped their target price on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Morgan Stanley increased their price objective on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, Evercore ISI reduced their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.35.

Prologis Stock Performance

NYSE PLD opened at $101.84 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The business has a 50-day moving average price of $123.24 and a 200-day moving average price of $121.78. The firm has a market cap of $94.29 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 2.18 and a beta of 1.00.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.77%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is presently 112.28%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.