Vestmark Advisory Solutions Inc. Purchases 2,565 Shares of Prologis, Inc. (NYSE:PLD)

Vestmark Advisory Solutions Inc. grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 18.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,305 shares of the real estate investment trust’s stock after acquiring an additional 2,565 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Prologis were worth $2,173,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PLD. Thompson Investment Management Inc. acquired a new stake in shares of Prologis during the 4th quarter worth approximately $28,000. FinTrust Capital Advisors LLC increased its stake in Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. Salem Investment Counselors Inc. acquired a new position in shares of Prologis during the fourth quarter valued at about $37,000. FNY Investment Advisers LLC bought a new position in shares of Prologis during the 4th quarter worth about $39,000. Finally, Valley National Advisers Inc. grew its stake in shares of Prologis by 178.6% in the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 250 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

Shares of NYSE:PLD traded up $1.36 during mid-day trading on Friday, reaching $105.89. The company had a trading volume of 3,517,673 shares, compared to its average volume of 4,890,799. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $122.11 and its 200-day moving average price is $121.63. The firm has a market cap of $98.04 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 2.20 and a beta of 1.05.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is currently 112.28%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PLD shares. Robert W. Baird dropped their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday. Argus decreased their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Raymond James lifted their price objective on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. dropped their price target on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Finally, Royal Bank of Canada boosted their price objective on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.35.

Prologis Company Profile

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.