Legacy Capital Wealth Partners LLC Invests $204,000 in Prologis, Inc. (NYSE:PLD)

Legacy Capital Wealth Partners LLC bought a new position in Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,530 shares of the real estate investment trust’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PLD. Family Legacy Inc. raised its holdings in Prologis by 0.5% during the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after buying an additional 87 shares during the period. Lockerman Financial Group Inc. lifted its position in shares of Prologis by 2.0% in the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock valued at $587,000 after acquiring an additional 87 shares in the last quarter. Hixon Zuercher LLC boosted its stake in Prologis by 0.6% in the 4th quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock worth $1,950,000 after purchasing an additional 88 shares during the period. AdvisorNet Financial Inc boosted its stake in Prologis by 11.0% in the 4th quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 90 shares during the period. Finally, Holistic Financial Partners grew its position in Prologis by 5.3% during the 3rd quarter. Holistic Financial Partners now owns 1,926 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 97 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Royal Bank of Canada raised their target price on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Raymond James lifted their target price on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Barclays lowered their price objective on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, StockNews.com downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.53.

Prologis Stock Performance

PLD opened at $105.03 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $97.24 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00. The stock has a 50-day moving average of $124.49 and a 200-day moving average of $121.98. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.66%. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is presently 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.