Golden State Equity Partners Makes New $1.24 Million Investment in Prologis, Inc. (NYSE:PLD)

Golden State Equity Partners acquired a new position in shares of Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,271 shares of the real estate investment trust’s stock, valued at approximately $1,236,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State of New Jersey Common Pension Fund D raised its holdings in shares of Prologis by 0.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,211,219 shares of the real estate investment trust’s stock worth $161,455,000 after acquiring an additional 4,000 shares during the period. Bailard Inc. raised its holdings in shares of Prologis by 0.3% during the fourth quarter. Bailard Inc. now owns 100,533 shares of the real estate investment trust’s stock worth $13,401,000 after acquiring an additional 296 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Prologis by 3.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 20,856 shares of the real estate investment trust’s stock worth $2,780,000 after acquiring an additional 608 shares during the period. Atria Wealth Solutions Inc. raised its holdings in shares of Prologis by 33.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 17,486 shares of the real estate investment trust’s stock worth $2,331,000 after acquiring an additional 4,345 shares during the period. Finally, South Dakota Investment Council raised its holdings in shares of Prologis by 4.1% during the fourth quarter. South Dakota Investment Council now owns 163,133 shares of the real estate investment trust’s stock worth $21,746,000 after acquiring an additional 6,500 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of PLD stock opened at $104.06 on Friday. The company has a market capitalization of $96.26 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 2.17 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. The company has a 50-day simple moving average of $125.06 and a 200 day simple moving average of $121.94. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.69%. Prologis’s payout ratio is presently 112.28%.

Analyst Ratings Changes

PLD has been the topic of several recent research reports. Morgan Stanley lifted their price target on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. The Goldman Sachs Group lowered their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Robert W. Baird lifted their price target on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. Finally, Mizuho reiterated a “neutral” rating and issued a $130.00 price target on shares of Prologis in a research note on Tuesday, April 2nd. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.24.

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.