AJOVista LLC Invests $253,000 in Prologis, Inc. (NYSE:PLD)

AJOVista LLC purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,900 shares of the real estate investment trust’s stock, valued at approximately $253,000.

Several other institutional investors have also modified their holdings of the stock. Legacy Financial Advisors Inc. raised its holdings in shares of Prologis by 5.7% during the 4th quarter. Legacy Financial Advisors Inc. now owns 4,041 shares of the real estate investment trust’s stock worth $539,000 after acquiring an additional 219 shares during the period. Sapient Capital LLC acquired a new stake in shares of Prologis during the 4th quarter worth about $890,000. Alterna Wealth Management Inc. acquired a new stake in shares of Prologis during the 4th quarter worth about $244,000. Merit Financial Group LLC increased its position in shares of Prologis by 30.7% during the 4th quarter. Merit Financial Group LLC now owns 4,650 shares of the real estate investment trust’s stock worth $620,000 after purchasing an additional 1,092 shares during the last quarter. Finally, Malaga Cove Capital LLC acquired a new stake in shares of Prologis during the 4th quarter worth about $333,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Barclays cut their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Raymond James raised their price objective on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. The Goldman Sachs Group dropped their target price on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Robert W. Baird dropped their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $132.35.

Prologis Stock Up 1.3 %

Shares of Prologis stock traded up $1.36 on Friday, reaching $105.89. 3,517,673 shares of the company were exchanged, compared to its average volume of 4,890,799. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a market cap of $98.04 billion, a P/E 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. The stock’s 50 day moving average price is $122.11 and its 200-day moving average price is $121.63.

Prologis Increases Dividend

The firm also recently announced 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 is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.63%. Prologis’s payout ratio is presently 112.28%.

Prologis Company 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.