Brighton Jones LLC Has $1.90 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Brighton Jones LLC lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,219 shares of the real estate investment trust’s stock after selling 194 shares during the quarter. Brighton Jones LLC’s holdings in Prologis were worth $1,895,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Thompson Investment Management Inc. acquired a new position in Prologis during the fourth quarter worth $28,000. FinTrust Capital Advisors LLC raised its holdings in Prologis by 966.7% during the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 232 shares in the last quarter. Salem Investment Counselors Inc. acquired a new position in Prologis during the fourth quarter valued at approximately $37,000. FNY Investment Advisers LLC bought a new stake in shares of Prologis during the 4th quarter worth approximately $39,000. Finally, Valley National Advisers Inc. raised its position in Prologis by 178.6% during the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 250 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

PLD has been the subject of a number of research analyst reports. UBS Group reduced their price target on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. The Goldman Sachs Group decreased their target price on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Evercore ISI decreased their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a report on Thursday, April 18th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, Barclays reduced their target price on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.35.

Prologis Stock Performance

PLD opened at $102.05 on Wednesday. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The business’s fifty day moving average is $123.87 and its 200-day moving average is $121.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $94.48 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 2.18 and a beta of 1.00.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.76%. Prologis’s payout ratio is presently 112.28%.

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.