True North Advisors LLC Buys 122 Shares of Prologis, Inc. (NYSE:PLD)

True North Advisors LLC lifted its position in Prologis, Inc. (NYSE:PLD) by 5.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,345 shares of the real estate investment trust’s stock after purchasing an additional 122 shares during the period. True North Advisors LLC’s holdings in Prologis were worth $248,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its holdings in Prologis by 3.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 459,154 shares of the real estate investment trust’s stock worth $48,533,000 after acquiring an additional 16,222 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Prologis by 4.6% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 2,450 shares of the real estate investment trust’s stock worth $259,000 after purchasing an additional 108 shares during the period. Baker Ellis Asset Management LLC grew its stake in shares of Prologis by 4.4% in the fourth quarter. Baker Ellis Asset Management LLC now owns 9,550 shares of the real estate investment trust’s stock worth $1,009,000 after purchasing an additional 400 shares during the last quarter. Investment Advisory Group LLC increased its holdings in Prologis by 2.8% during the 4th quarter. Investment Advisory Group LLC now owns 7,236 shares of the real estate investment trust’s stock valued at $765,000 after purchasing an additional 200 shares during the period. Finally, Atomi Financial Group Inc. raised its position in Prologis by 11.3% during the 4th quarter. Atomi Financial Group Inc. now owns 5,028 shares of the real estate investment trust’s stock valued at $532,000 after purchasing an additional 511 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE:PLD opened at $118.38 on Friday. The business has a fifty day moving average price of $110.31 and a 200-day moving average price of $118.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $109.64 billion, a PE ratio of 29.59, a PEG ratio of 3.25 and a beta of 1.09. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.24%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent analyst reports. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and cut their price objective for the stock from $124.00 to $123.00 in a research report on Monday, January 6th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Raymond James reissued an “outperform” rating and set a $125.00 price objective (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Truist Financial cut their target price on shares of Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, Scotiabank decreased their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.67.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.