US Asset Management LLC Makes New $660,000 Investment in Prologis, Inc. (NYSE:PLD)

US Asset Management LLC acquired a new stake in Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,954 shares of the real estate investment trust’s stock, valued at approximately $660,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealthspire Advisors LLC acquired a new stake in Prologis in the fourth quarter valued at $259,000. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of Prologis by 33.8% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,760 shares of the real estate investment trust’s stock valued at $501,000 after buying an additional 949 shares during the last quarter. National Pension Service increased its position in Prologis by 2.7% in the 4th quarter. National Pension Service now owns 1,671,326 shares of the real estate investment trust’s stock valued at $222,788,000 after acquiring an additional 44,472 shares during the period. Bogart Wealth LLC raised its stake in Prologis by 170.9% during the 4th quarter. Bogart Wealth LLC now owns 317 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 200 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its position in Prologis by 1.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 66,012 shares of the real estate investment trust’s stock worth $8,799,000 after acquiring an additional 1,068 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on PLD. Mizuho restated a “neutral” rating and set a $130.00 price target on shares of Prologis in a research note on Tuesday, April 2nd. Robert W. Baird dropped their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. UBS Group cut their target price on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Evercore ISI decreased their price target 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. Finally, Argus cut their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.12.

Prologis Price Performance

Shares of NYSE PLD traded down $0.78 during trading on Friday, reaching $107.37. The company had a trading volume of 1,179,543 shares, compared to its average volume of 3,539,801. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $99.41 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a 50-day moving average price of $120.00 and a two-hundred day moving average price of $121.69.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.58%. Prologis’s dividend 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.