180 Wealth Advisors LLC Acquires 643 Shares of Prologis, Inc. (NYSE:PLD)

180 Wealth Advisors LLC increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,289 shares of the real estate investment trust’s stock after purchasing an additional 643 shares during the quarter. Prologis accounts for 0.9% of 180 Wealth Advisors LLC’s portfolio, making the stock its 18th biggest holding. 180 Wealth Advisors LLC’s holdings in Prologis were worth $4,986,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC bought a new position in Prologis in the fourth quarter valued at about $27,000. Optimum Investment Advisors bought a new position in Prologis in the first quarter valued at about $26,000. Thompson Investment Management Inc. bought a new position in Prologis in the fourth quarter valued at about $28,000. JFS Wealth Advisors LLC lifted its holdings in Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 168 shares during the period. Finally, Clear Investment Research LLC lifted its holdings in Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 158 shares during the period. 93.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Argus lowered their target price on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Robert W. Baird lowered their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. BMO Capital Markets cut Prologis from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. Barclays reduced their price target on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Finally, UBS Group reduced their price target on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $129.76.

Prologis Price Performance

NYSE PLD traded down $0.36 during trading on Friday, hitting $110.99. 524,365 shares of the stock traded hands, compared to its average volume of 3,726,599. The company has a market capitalization of $102.76 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 2.46 and a beta of 1.07. The firm has a 50-day simple moving average of $107.83 and a 200-day simple moving average of $121.97. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Monday, June 17th. Prologis’s dividend payout ratio is presently 112.28%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.