Vestmark Advisory Solutions Inc. Raises Holdings in Prologis, Inc. (NYSE:PLD)

Vestmark Advisory Solutions Inc. increased its position in Prologis, Inc. (NYSE:PLD) by 18.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,305 shares of the real estate investment trust’s stock after purchasing an additional 2,565 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Prologis were worth $2,173,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Prologis by 6.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after purchasing an additional 1,034,211 shares during the last quarter. FMR LLC lifted its holdings in shares of Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after acquiring an additional 197,693 shares during the last quarter. Northern Trust Corp grew its holdings in Prologis by 0.7% during the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after purchasing an additional 92,036 shares during the last quarter. Principal Financial Group Inc. raised its position in Prologis by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock worth $1,369,140,000 after purchasing an additional 268,667 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Prologis by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,344,542 shares of the real estate investment trust’s stock worth $1,048,551,000 after purchasing an additional 121,159 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of NYSE PLD traded up $1.36 during midday trading 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 business’s 50-day simple moving average is $122.11 and its 200 day simple moving average is $121.63. The stock has a market cap of $98.04 billion, a P/E ratio of 30.96, a P/E/G ratio of 2.20 and a beta of 1.05. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given 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 of this dividend was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PLD. Robert W. Baird reduced their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday. Royal Bank of Canada lifted their price objective on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Barclays reduced their target price on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Morgan Stanley increased their price objective on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, The Goldman Sachs Group lowered their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. One 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $132.35.

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.