Addison Advisors LLC Takes $135,000 Position in Prologis, Inc. (NYSE:PLD)

Addison Advisors LLC acquired a new stake in Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,012 shares of the real estate investment trust’s stock, valued at approximately $135,000.

Several other large investors have also bought and sold shares of PLD. Strategic Blueprint LLC grew its stake in shares of Prologis by 7.4% in the 3rd quarter. Strategic Blueprint LLC now owns 2,041 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 140 shares during the last quarter. Handelsbanken Fonder AB grew its position in Prologis by 0.5% in the third quarter. Handelsbanken Fonder AB now owns 354,886 shares of the real estate investment trust’s stock worth $39,822,000 after buying an additional 1,797 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Prologis by 23.2% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,168 shares of the real estate investment trust’s stock valued at $580,000 after buying an additional 972 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of Prologis by 27.6% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 16,138 shares of the real estate investment trust’s stock valued at $1,811,000 after acquiring an additional 3,490 shares during the last quarter. Finally, InTrack Investment Management Inc lifted its position in shares of Prologis by 18.6% during the 3rd quarter. InTrack Investment Management Inc now owns 4,477 shares of the real estate investment trust’s stock valued at $502,000 after acquiring an additional 702 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.7 %

Shares of NYSE PLD traded up $0.71 during mid-day trading on Friday, reaching $104.06. 4,037,744 shares of the company traded hands, compared to its average volume of 4,340,292. The company’s fifty day moving average is $125.06 and its two-hundred day moving average is $121.86. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. 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 stock has a market cap of $96.26 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 2.15 and a beta of 1.00.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 3.69%. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent analyst reports. StockNews.com lowered Prologis from a “hold” rating to a “sell” rating in a research report on Wednesday. Argus cut their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. The Goldman Sachs Group cut their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Raymond James raised their price objective on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.24.

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.