Avidian Wealth Solutions LLC Acquires 727 Shares of Prologis, Inc. (NYSE:PLD)

Avidian Wealth Solutions LLC grew its position in shares of Prologis, Inc. (NYSE:PLD) by 11.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,938 shares of the real estate investment trust’s stock after buying an additional 727 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Prologis were worth $925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PLD. Thompson Investment Management Inc. purchased a new stake in shares of Prologis in the fourth quarter worth $28,000. FinTrust Capital Advisors LLC grew its holdings in Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 232 shares in the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of Prologis during the fourth quarter valued at approximately $37,000. FNY Investment Advisers LLC purchased a new position in shares of Prologis during the fourth quarter valued at about $39,000. Finally, Valley National Advisers Inc. lifted its position in shares of Prologis by 178.6% in the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Evercore ISI lowered their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research report on Thursday, April 18th. UBS Group reduced their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Finally, The Goldman Sachs Group reduced their price objective on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average price target of $132.35.

Prologis Trading Up 1.3 %

PLD traded up $1.36 on Friday, reaching $105.89. 3,517,673 shares of the company traded hands, compared to its average volume of 4,890,799. The company has a market cap of $98.04 billion, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The firm has a fifty day simple moving average of $122.11 and a two-hundred day simple moving average of $121.84.

Prologis Increases Dividend

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

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.