Ballentine Partners LLC Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Ballentine Partners LLC raised its position in Prologis, Inc. (NYSE:PLD) by 18.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 14,069 shares of the real estate investment trust’s stock after acquiring an additional 2,154 shares during the period. Ballentine Partners LLC’s holdings in Prologis were worth $1,832,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Family Legacy Inc. grew its stake in shares of Prologis by 0.5% during the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after purchasing an additional 87 shares during the period. Lockerman Financial Group Inc. increased its holdings in Prologis by 2.0% in the fourth quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock valued at $587,000 after buying an additional 87 shares in the last quarter. Hixon Zuercher LLC lifted its position in shares of Prologis by 0.6% during the 4th quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock valued at $1,950,000 after acquiring an additional 88 shares during the period. AdvisorNet Financial Inc boosted its stake in shares of Prologis by 11.0% during the 4th quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 90 shares in the last quarter. Finally, CVA Family Office LLC grew its holdings in shares of Prologis by 21.4% in the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 94 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 0.9 %

PLD traded up $0.93 during trading hours on Monday, reaching $110.33. 80,288 shares of the stock traded hands, compared to its average volume of 3,742,729. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $102.15 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 2.43 and a beta of 1.07. The firm’s fifty day simple moving average is $107.93 and its two-hundred day simple moving average is $122.17.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Monday, June 17th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays lowered their target price on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Royal Bank of Canada reduced their target price on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Robert W. Baird cut their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Argus reduced their price objective on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, UBS Group reduced their price target on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.76.

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.