Apollon Wealth Management LLC Acquires 5,357 Shares of Prologis, Inc. (NYSE:PLD)

Apollon Wealth Management LLC grew its holdings in Prologis, Inc. (NYSE:PLD) by 43.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,563 shares of the real estate investment trust’s stock after purchasing an additional 5,357 shares during the period. Apollon Wealth Management LLC’s holdings in Prologis were worth $2,341,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its holdings in shares of Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after buying an additional 1,034,211 shares during the period. FMR LLC raised its stake in Prologis by 1.2% during the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after acquiring an additional 197,693 shares during the period. Northern Trust Corp lifted its holdings in Prologis by 0.7% during the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after purchasing an additional 92,036 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Prologis by 2.3% in the third quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock worth $1,369,140,000 after purchasing an additional 268,667 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Prologis by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,344,542 shares of the real estate investment trust’s stock valued at $1,048,551,000 after purchasing an additional 121,159 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PLD. Royal Bank of Canada dropped their target price on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a report on Monday. Raymond James boosted their price target on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. Barclays cut their price objective on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, April 29th. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, StockNews.com downgraded shares of Prologis from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Trading Up 3.0 %

PLD stock traded up $3.13 during mid-day trading on Tuesday, reaching $107.80. 4,087,932 shares of the stock traded hands, compared to its average volume of 3,566,481. The business has a 50-day moving average price of $121.55 and a two-hundred day moving average price of $121.86. The stock has a market capitalization of $99.81 billion, a PE ratio of 30.61, a PEG ratio of 2.20 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a $0.96 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is 112.28%.

Prologis 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.