Madison Asset Management LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,655 shares of the real estate investment trust’s stock, valued at approximately $3,275,000.
Several other institutional investors and hedge funds also recently made changes to their positions in PLD. Brighton Jones LLC grew its holdings in shares of Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after purchasing an additional 15,078 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of Prologis by 45.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 10,728 shares of the real estate investment trust’s stock valued at $1,128,000 after purchasing an additional 3,350 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Prologis during the 2nd quarter valued at $422,000. NewEdge Advisors LLC grew its holdings in shares of Prologis by 6.8% during the 2nd quarter. NewEdge Advisors LLC now owns 63,829 shares of the real estate investment trust’s stock valued at $6,710,000 after purchasing an additional 4,074 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Prologis by 2.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 433,312 shares of the real estate investment trust’s stock valued at $45,550,000 after purchasing an additional 10,266 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.
Prologis Trading Down 1.0%
NYSE:PLD opened at $142.27 on Thursday. The company has a 50-day moving average price of $136.96 and a 200-day moving average price of $132.52. Prologis, Inc. has a 12 month low of $103.02 and a 12 month high of $145.44. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.60. The stock has a market cap of $132.64 billion, a price-to-earnings ratio of 35.84, a P/E/G ratio of 3.17 and a beta of 1.33.
Prologis Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 16th. Prologis’s dividend payout ratio (DPR) is currently 107.81%.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Truist Financial increased their target price on shares of Prologis from $139.00 to $154.00 and gave the company a “buy” rating in a report on Friday, April 24th. Robert W. Baird increased their price target on shares of Prologis from $133.00 to $136.00 and gave the company a “neutral” rating in a research report on Friday, April 17th. Scotiabank raised their price target on shares of Prologis from $146.00 to $154.00 and gave the stock an “outperform” rating in a report on Tuesday, April 21st. Royal Bank Of Canada raised their price target on shares of Prologis from $135.00 to $148.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 28th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $157.00 price target on shares of Prologis in a report on Friday, April 17th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.76.
Prologis Profile
Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.
With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.
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