W.H. Cornerstone Investments Inc. Makes New $296,000 Investment in Prologis, Inc. (NYSE:PLD)

W.H. Cornerstone Investments Inc. purchased a new position in Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,220 shares of the real estate investment trust’s stock, valued at approximately $296,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Columbia Trust Co 01012016 raised its holdings in shares of Prologis by 16.0% during the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after purchasing an additional 723 shares in the last quarter. Cyndeo Wealth Partners LLC raised its holdings in Prologis by 39.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after buying an additional 11,882 shares in the last quarter. DNB Asset Management AS lifted its position in shares of Prologis by 17.1% in the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after buying an additional 42,073 shares during the last quarter. Grassi Investment Management boosted its stake in shares of Prologis by 31.8% during the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after acquiring an additional 60,900 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. boosted its stake in shares of Prologis by 255.0% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after acquiring an additional 11,582 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group decreased their target price on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Evercore ISI lowered their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. Mizuho reissued a “neutral” rating and set a $130.00 target price on shares of Prologis in a research report on Tuesday, April 2nd. Robert W. Baird lowered their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $132.35.

Prologis Price Performance

Shares of NYSE PLD traded up $1.36 during midday trading on Friday, reaching $105.89. 3,517,673 shares of the company traded hands, compared to its average volume of 4,890,799. The stock’s 50-day simple moving average is $122.11 and its 200-day simple moving average is $121.84. 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 12 month low of $96.64 and a 12 month high of $137.52. The firm has a market cap of $98.04 billion, a PE ratio of 30.96, a PEG ratio of 2.20 and a beta of 1.05.

Prologis Increases Dividend

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