AJOVista LLC Takes Position in Prologis, Inc. (NYSE:PLD)

AJOVista LLC purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,900 shares of the real estate investment trust’s stock, valued at approximately $253,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Prologis in the 3rd quarter valued at approximately $185,164,000. Massachusetts Financial Services Co. MA raised its holdings in Prologis by 6.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after acquiring an additional 1,034,211 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Prologis by 43.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,402,293 shares of the real estate investment trust’s stock valued at $269,561,000 after acquiring an additional 721,910 shares during the last quarter. PGGM Investments grew its holdings in Prologis by 29.2% during the 4th quarter. PGGM Investments now owns 3,169,612 shares of the real estate investment trust’s stock worth $422,509,000 after acquiring an additional 717,172 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Prologis by 23.0% in the 3rd quarter. Barclays PLC now owns 2,809,487 shares of the real estate investment trust’s stock worth $315,253,000 after purchasing an additional 525,171 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com downgraded Prologis from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Morgan Stanley increased their target price on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Robert W. Baird dropped their target price on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday. The Goldman Sachs Group dropped their target price on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target of $132.35.

Prologis Stock Performance

Shares of PLD stock traded up $1.36 during trading hours on Friday, reaching $105.89. The stock had a trading volume of 3,517,673 shares, compared to its average volume of 4,890,799. The firm has a 50-day simple moving average of $122.11 and a 200-day simple moving average of $121.63. The firm has a market capitalization of $98.04 billion, a PE ratio of 30.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Prologis 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.