Rakuten Investment Management Inc. raised its holdings in Prologis, Inc. (NYSE:PLD – Free Report) by 11.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 169,403 shares of the real estate investment trust’s stock after acquiring an additional 16,915 shares during the period. Rakuten Investment Management Inc.’s holdings in Prologis were worth $22,465,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Sandy Cove Advisors LLC lifted its holdings in shares of Prologis by 1.9% during the 2nd quarter. Sandy Cove Advisors LLC now owns 3,854 shares of the real estate investment trust’s stock worth $522,000 after acquiring an additional 73 shares during the period. CoreCap Advisors LLC boosted its position in shares of Prologis by 5.0% in the second quarter. CoreCap Advisors LLC now owns 1,538 shares of the real estate investment trust’s stock worth $208,000 after acquiring an additional 73 shares during the last quarter. Boltwood Capital Management boosted its position in shares of Prologis by 1.5% in the second quarter. Boltwood Capital Management now owns 5,170 shares of the real estate investment trust’s stock worth $700,000 after acquiring an additional 75 shares during the last quarter. Hibernia Wealth Partners LLC boosted its position in shares of Prologis by 2.5% in the first quarter. Hibernia Wealth Partners LLC now owns 3,070 shares of the real estate investment trust’s stock worth $406,000 after acquiring an additional 76 shares during the last quarter. Finally, Quadrant Private Wealth Management LLC grew its holdings in Prologis by 4.4% in the first quarter. Quadrant Private Wealth Management LLC now owns 1,818 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently commented on PLD. BTIG Research reaffirmed a “buy” rating and set a $170.00 price target on shares of Prologis in a research report on Friday, October 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $149.00 price target on shares of Prologis in a research note on Monday. Wells Fargo & Company decreased their price target on shares of Prologis from $166.00 to $158.00 and set an “overweight” rating on the stock in a report on Monday. Raymond James Financial raised shares of Prologis from a “market perform” rating to an “outperform” rating and set a $163.00 price objective for the company in a research note on Wednesday, October 21st. Finally, Robert W. Baird lowered their price objective on shares of Prologis from $140.00 to $136.00 and set a “neutral” rating for the company in a research note on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average target price of $154.05.
Get Our Latest Stock Analysis on Prologis
Prologis Trading Down 0.5%
NYSE:PLD opened at $129.03 on Wednesday. The business’s 50-day moving average is $132.42 and its two-hundred day moving average is $137.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.81 and a quick ratio of 0.81. Prologis, Inc. has a 12 month low of $121.40 and a 12 month high of $153.35. The firm has a market capitalization of $122.64 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 1.48 and a beta of 1.27.
Prologis Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were paid a $1.07 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.3%. Prologis’s dividend payout ratio (DPR) is 94.48%.
Prologis Profile
Prologis, Inc is a global real estate investment trust that owns, develops, acquires and manages logistics properties. Its portfolio primarily includes warehouses, distribution centers and fulfillment facilities used by retailers, manufacturers, transportation companies and other businesses to support supply-chain operations and e-commerce.
The company also provides property management, development and leasing services, along with related supply-chain and customer solutions. Through its Prologis Essentials platform, it offers services and technologies designed to help customers improve warehouse operations, including energy, mobility and operational solutions.
Prologis serves major population centers and trade corridors across North America, Europe, Asia and Latin America.
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