GSI Capital Advisors LLC lifted its position in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,072 shares of the real estate investment trust’s stock after purchasing an additional 11,256 shares during the period. Prologis comprises about 9.4% of GSI Capital Advisors LLC’s holdings, making the stock its largest position. GSI Capital Advisors LLC’s holdings in Prologis were worth $16,860,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. High Note Wealth LLC grew its stake in shares of Prologis by 43.9% during the fourth quarter. High Note Wealth LLC now owns 249 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 76 shares in the last quarter. Dakota Community Bank & Trust NA grew its stake in shares of Prologis by 3.4% during the fourth quarter. Dakota Community Bank & Trust NA now owns 2,398 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 79 shares in the last quarter. Dearborn Partners LLC grew its stake in shares of Prologis by 4.2% during the fourth quarter. Dearborn Partners LLC now owns 1,969 shares of the real estate investment trust’s stock valued at $251,000 after acquiring an additional 79 shares in the last quarter. Peddock Capital Advisors LLC grew its stake in shares of Prologis by 3.1% during the fourth quarter. Peddock Capital Advisors LLC now owns 2,651 shares of the real estate investment trust’s stock valued at $338,000 after acquiring an additional 80 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC grew its stake in shares of Prologis by 1.0% during the third quarter. Foster Dykema Cabot & Partners LLC now owns 8,232 shares of the real estate investment trust’s stock valued at $943,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.
Prologis Stock Performance
Shares of PLD stock opened at $147.49 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.51 and a current ratio of 0.51. Prologis, Inc. has a one year low of $103.41 and a one year high of $148.46. The company’s 50-day simple moving average is $141.69 and its 200-day simple moving average is $135.42. The stock has a market capitalization of $137.51 billion, a price-to-earnings ratio of 37.15, a PEG ratio of 3.21 and a beta of 1.32.
Prologis Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $4.28 dividend on an annualized basis and a yield of 2.9%. Prologis’s dividend payout ratio (DPR) is currently 107.81%.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on Prologis from $155.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. BTIG Research restated a “buy” rating and set a $155.00 target price on shares of Prologis in a research note on Wednesday, April 15th. Mizuho increased their price target on shares of Prologis from $143.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group reduced their price target on shares of Prologis from $157.00 to $155.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Evercore set a $135.00 price target on shares of Prologis in a research report on Friday, April 17th. Sixteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.86.
Check Out Our Latest Analysis on PLD
About Prologis
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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