American National Bank & Trust Co. VA Makes New $418,000 Investment in Prologis, Inc. (NYSE:PLD)

American National Bank & Trust Co. VA purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,207 shares of the real estate investment trust’s stock, valued at approximately $418,000.

A number of other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in Prologis by 7.2% during the 3rd quarter. AQR Capital Management LLC now owns 232,416 shares of the real estate investment trust’s stock worth $26,079,000 after buying an additional 15,583 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in Prologis by 218.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 6,357 shares of the real estate investment trust’s stock worth $713,000 after buying an additional 4,359 shares in the last quarter. Alps Advisors Inc. lifted its position in Prologis by 19.5% during the 3rd quarter. Alps Advisors Inc. now owns 2,880 shares of the real estate investment trust’s stock worth $323,000 after buying an additional 470 shares in the last quarter. Scotia Capital Inc. raised its holdings in Prologis by 18.8% during the 3rd quarter. Scotia Capital Inc. now owns 285,144 shares of the real estate investment trust’s stock worth $31,997,000 after purchasing an additional 45,142 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in Prologis by 89.8% during the 3rd quarter. Schroder Investment Management Group now owns 1,004,732 shares of the real estate investment trust’s stock worth $112,741,000 after purchasing an additional 475,229 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 0.1 %

Shares of NYSE:PLD opened at $113.30 on Friday. The company has a market capitalization of $104.90 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 2.52 and a beta of 1.06. 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 business has a fifty day moving average price of $108.86 and a two-hundred day moving average price of $121.34. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.39%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Analysts Set New Price Targets

Several analysts have weighed in on PLD shares. Mizuho dropped their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. UBS Group dropped their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Robert W. Baird dropped their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Evercore ISI lowered their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. Finally, StockNews.com cut Prologis from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $129.76.

About Prologis

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.