United Capital Financial Advisers LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD – Get Rating) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,227 shares of the real estate investment trust’s stock after buying an additional 1,292 shares during the period. United Capital Financial Advisers LLC’s holdings in Prologis were worth $8,733,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in PLD. State Street Corp boosted its position in shares of Prologis by 10.4% during the first quarter. State Street Corp now owns 51,717,111 shares of the real estate investment trust’s stock worth $8,351,279,000 after buying an additional 4,861,668 shares during the period. Cohen & Steers Inc. boosted its position in shares of Prologis by 23.5% during the first quarter. Cohen & Steers Inc. now owns 18,488,000 shares of the real estate investment trust’s stock worth $2,985,801,000 after buying an additional 3,513,643 shares during the period. Vanguard Group Inc. boosted its position in shares of Prologis by 1.9% during the first quarter. Vanguard Group Inc. now owns 97,672,838 shares of the real estate investment trust’s stock worth $15,772,211,000 after buying an additional 1,814,967 shares during the period. Wellington Management Group LLP boosted its position in shares of Prologis by 14.7% during the first quarter. Wellington Management Group LLP now owns 10,297,770 shares of the real estate investment trust’s stock worth $1,662,884,000 after buying an additional 1,319,554 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of Prologis by 22.1% during the second quarter. Lazard Asset Management LLC now owns 5,647,043 shares of the real estate investment trust’s stock worth $664,373,000 after buying an additional 1,022,909 shares during the period. 94.01% of the stock is currently owned by institutional investors and hedge funds.
Prologis Price Performance
NYSE PLD opened at $115.53 on Thursday. The business’s fifty day moving average is $107.96 and its two-hundred day moving average is $118.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.48 and a current ratio of 0.48. Prologis, Inc. has a 1 year low of $98.03 and a 1 year high of $174.54. The stock has a market capitalization of $106.64 billion, a P/E ratio of 21.43, a P/E/G ratio of 2.59 and a beta of 0.95.
Prologis Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Wednesday, September 14th. Prologis’s dividend payout ratio (DPR) is currently 58.63%.
Analyst Ratings Changes
Several equities research analysts recently commented on PLD shares. Stifel Nicolaus started coverage on Prologis in a report on Wednesday, October 12th. They set a “buy” rating and a $128.00 target price on the stock. Bank of America started coverage on Prologis in a report on Monday, October 24th. They set a “buy” rating and a $140.00 target price on the stock. BTIG Research dropped their target price on Prologis from $193.00 to $152.00 and set a “buy” rating on the stock in a report on Monday, October 17th. Evercore ISI boosted their target price on Prologis to $121.00 in a report on Tuesday, November 15th. Finally, Morgan Stanley started coverage on Prologis in a report on Monday, October 17th. They set an “overweight” rating and a $120.00 target price on the stock. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prologis presently has an average rating of “Buy” and an average target price of $145.39.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.
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