Robertson Stephens Wealth Management LLC Purchases New Position in Prologis, Inc. (NYSE:PLD)

Robertson Stephens Wealth Management LLC bought a new position in Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,517 shares of the real estate investment trust’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Columbia Trust Co 01012016 boosted its stake in Prologis by 16.0% in the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after buying an additional 723 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its position in Prologis by 39.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after acquiring an additional 11,882 shares during the period. DNB Asset Management AS lifted its position in Prologis by 17.1% during the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after acquiring an additional 42,073 shares during the period. Grassi Investment Management increased its stake in Prologis by 31.8% during the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after purchasing an additional 60,900 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. grew its stake in shares of Prologis by 255.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after acquiring an additional 11,582 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price target on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. StockNews.com downgraded shares of Prologis from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Mizuho reissued a “neutral” rating and issued a $130.00 target price on shares of Prologis in a report on Tuesday, April 2nd. Robert W. Baird reduced their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.35.

Prologis Trading Up 1.3 %

Shares of PLD stock opened at $105.85 on Friday. The company’s 50-day moving average price is $122.66 and its 200-day moving average price is $121.66. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The stock has a market cap of $98.00 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 2.17 and a beta of 1.05. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.96 per share. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.63%. Prologis’s payout ratio is presently 112.28%.

Prologis Company Profile

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.