Everpar Advisors LLC Takes $381,000 Position in Prologis, Inc. (NYSE:PLD)

Everpar Advisors LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,860 shares of the real estate investment trust’s stock, valued at approximately $381,000.

Several other hedge funds have also recently modified their holdings of the stock. Gryphon Financial Partners LLC increased its holdings in shares of Prologis by 61.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock valued at $692,000 after acquiring an additional 1,995 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Prologis by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock worth $1,268,992,000 after buying an additional 175,276 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Prologis by 6.0% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,553 shares of the real estate investment trust’s stock worth $874,000 after buying an additional 369 shares during the period. Apollon Wealth Management LLC increased its holdings in Prologis by 43.9% in the 4th quarter. Apollon Wealth Management LLC now owns 17,563 shares of the real estate investment trust’s stock worth $2,341,000 after buying an additional 5,357 shares during the period. Finally, Lincoln National Corp increased its holdings in Prologis by 5.0% in the 4th quarter. Lincoln National Corp now owns 47,116 shares of the real estate investment trust’s stock worth $6,280,000 after buying an additional 2,247 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

PLD traded down $1.87 during midday trading on Wednesday, hitting $105.89. 2,947,728 shares of the company traded hands, compared to its average volume of 3,559,533. 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 has a market capitalization 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, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The business has a 50 day simple moving average of $121.06 and a two-hundred day simple moving average of $121.90.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.63%. 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 dividend payout ratio (DPR) is presently 112.28%.

Wall Street Analyst Weigh In

PLD has been the topic of several research reports. Mizuho reiterated a “neutral” rating and issued a $130.00 price target on shares of Prologis in a report on Tuesday, April 2nd. The Goldman Sachs Group cut their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Evercore ISI cut their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a report on Thursday, April 18th. Robert W. Baird cut their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Barclays dropped their price objective on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.12.

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.