Addison Advisors LLC Acquires New Stake in Prologis, Inc. (NYSE:PLD)

Addison Advisors LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,012 shares of the real estate investment trust’s stock, valued at approximately $135,000.

Other institutional investors also recently bought and sold shares of the company. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Prologis in the third quarter valued at approximately $185,164,000. Massachusetts Financial Services Co. MA grew its stake in shares of Prologis by 6.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after acquiring an additional 1,034,211 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Prologis by 43.0% during the third quarter. Envestnet Asset Management Inc. now owns 2,402,293 shares of the real estate investment trust’s stock worth $269,561,000 after acquiring an additional 721,910 shares during the period. Barclays PLC raised its stake in shares of Prologis by 23.0% in the third quarter. Barclays PLC now owns 2,809,487 shares of the real estate investment trust’s stock valued at $315,253,000 after acquiring an additional 525,171 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Prologis by 89.8% in the third quarter. Schroder Investment Management Group now owns 1,004,732 shares of the real estate investment trust’s stock valued at $112,741,000 after purchasing an additional 475,229 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PLD shares. Evercore ISI reduced their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research report on Thursday, April 18th. Argus reduced their target price on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Raymond James boosted their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, The Goldman Sachs Group decreased their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.24.

Prologis Trading Up 0.7 %

PLD traded up $0.71 during midday trading on Friday, hitting $104.06. The company’s stock had a trading volume of 4,037,744 shares, compared to its average volume of 4,340,292. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The firm has a 50-day moving average price of $125.06 and a two-hundred day moving average price of $121.86. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. The firm has a market cap of $96.26 billion, a P/E ratio of 30.42, a PEG ratio of 2.15 and a beta of 1.00.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.69%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is presently 112.28%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.