Avidian Wealth Solutions LLC Increases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Avidian Wealth Solutions LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,938 shares of the real estate investment trust’s stock after purchasing an additional 727 shares during the period. Avidian Wealth Solutions LLC’s holdings in Prologis were worth $925,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Columbia Trust Co 01012016 increased its stake in shares of Prologis by 16.0% during the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after buying an additional 723 shares during the period. Cyndeo Wealth Partners LLC raised its holdings in shares of Prologis by 39.4% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after purchasing an additional 11,882 shares in the last quarter. DNB Asset Management AS lifted its position in shares of Prologis by 17.1% during the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after purchasing an additional 42,073 shares during the last quarter. Grassi Investment Management grew its stake in shares of Prologis by 31.8% during the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after purchasing an additional 60,900 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. increased its holdings in Prologis by 255.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock valued at $2,149,000 after buying an additional 11,582 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the topic of several research analyst reports. Robert W. Baird cut their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Evercore ISI reduced their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research report on Thursday, April 18th. Morgan Stanley upped their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Finally, Mizuho reissued a “neutral” rating and issued a $130.00 target price on shares of Prologis in a report on Tuesday, April 2nd. One equities research 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’s stock. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average target price of $132.35.

Prologis Stock Performance

PLD traded up $1.36 during trading on Friday, hitting $105.89. The stock had a trading volume of 3,517,673 shares, compared to its average volume of 4,890,799. The firm has a market capitalization of $98.04 billion, a P/E ratio of 30.96, a PEG ratio of 2.20 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company’s 50-day moving average price is $122.11 and its 200 day moving average price is $121.84.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.63%. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is currently 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.