Sapient Capital LLC Takes $890,000 Position in Prologis, Inc. (NYSE:PLD)

Sapient Capital LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 6,674 shares of the real estate investment trust’s stock, valued at approximately $890,000.

Other institutional investors have also made changes to their positions in the company. FinTrust Capital Advisors LLC grew its position in Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 232 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Prologis by 10.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 214,352 shares of the real estate investment trust’s stock valued at $24,052,000 after acquiring an additional 20,536 shares during the period. Stratos Wealth Partners LTD. grew its position in Prologis by 7.6% in the third quarter. Stratos Wealth Partners LTD. now owns 9,836 shares of the real estate investment trust’s stock valued at $1,104,000 after acquiring an additional 697 shares during the period. Telemus Capital LLC bought a new stake in Prologis in the third quarter valued at $820,000. Finally, Veracity Capital LLC grew its position in Prologis by 3.9% in the third quarter. Veracity Capital LLC now owns 2,978 shares of the real estate investment trust’s stock valued at $334,000 after acquiring an additional 113 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Morgan Stanley upped their price target on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Barclays reduced their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Evercore ISI reduced their price objective on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. Argus reduced their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Robert W. Baird reduced their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday. One 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.35.

Prologis Trading Up 1.3 %

NYSE PLD traded up $1.36 on Friday, reaching $105.89. The company had a trading volume of 3,517,673 shares, compared to its average volume of 4,890,799. The stock’s 50 day moving average is $122.11 and its 200-day moving average is $121.63. The stock has a market cap of $98.04 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 2.20 and a beta of 1.05. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. 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 disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Friday, March 15th. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is currently 112.28%.

Prologis 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.