Prologis, Inc. (NYSE:PLD) Shares Acquired by Summit Financial LLC

Summit Financial LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,271 shares of the real estate investment trust’s stock after purchasing an additional 388 shares during the quarter. Summit Financial LLC’s holdings in Prologis were worth $1,207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PLD. Main Street Financial Solutions LLC grew its stake in shares of Prologis by 16.5% during the 3rd quarter. Main Street Financial Solutions LLC now owns 2,277 shares of the real estate investment trust’s stock worth $255,000 after purchasing an additional 322 shares during the period. Corient Private Wealth LLC grew its stake in Prologis by 9.6% in the 3rd quarter. Corient Private Wealth LLC now owns 695,251 shares of the real estate investment trust’s stock valued at $78,033,000 after acquiring an additional 60,854 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Prologis by 4.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,450 shares of the real estate investment trust’s stock valued at $275,000 after acquiring an additional 111 shares during the last quarter. LSV Asset Management acquired a new stake in Prologis in the 3rd quarter valued at about $258,000. Finally, Syon Capital LLC acquired a new stake in Prologis in the 3rd quarter valued at about $804,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Down 3.3 %

NYSE PLD traded down $3.59 during mid-day trading on Thursday, hitting $105.63. The company’s stock had a trading volume of 4,364,192 shares, compared to its average volume of 3,564,793. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The stock’s fifty day simple moving average is $115.17 and its two-hundred day simple moving average is $122.26. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $97.80 billion, a P/E ratio of 30.89, a price-to-earnings-growth ratio of 2.46 and a beta of 1.05.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a $0.96 dividend. The ex-dividend date is Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.64%. Prologis’s payout ratio is 112.28%.

Analyst Ratings Changes

PLD has been the topic of a number of research reports. The Goldman Sachs Group lowered their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. UBS Group lowered their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Argus lowered their price objective on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Scotiabank lowered their price objective on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 16th. Finally, Royal Bank of Canada decreased their price target on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.35.

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.