Valeo Financial Advisors LLC Buys 48,850,448 Shares of Prologis, Inc. (NYSE:PLD)

Valeo Financial Advisors LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 182,067.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,877,279 shares of the real estate investment trust’s stock after purchasing an additional 48,850,448 shares during the quarter. Prologis makes up about 66.6% of Valeo Financial Advisors LLC’s holdings, making the stock its biggest position. Valeo Financial Advisors LLC owned 0.05% of Prologis worth $6,364,799,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Family Legacy Inc. grew its position in Prologis by 0.5% in the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock valued at $2,217,000 after buying an additional 87 shares during the last quarter. Lockerman Financial Group Inc. grew its position in 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 buying an additional 87 shares during the last quarter. Hixon Zuercher LLC grew its position 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 valued at $1,950,000 after buying an additional 88 shares during the last quarter. AdvisorNet Financial Inc grew its position in Prologis by 11.0% in the 4th quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 90 shares during the last quarter. Finally, CVA Family Office LLC grew its position in Prologis by 21.4% in the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 0.1 %

Shares of PLD traded up $0.09 during trading on Wednesday, reaching $113.30. The company’s stock had a trading volume of 1,339,306 shares, compared to its average volume of 3,729,926. The company has a fifty day moving average of $108.46 and a two-hundred day moving average of $121.45. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a market cap of $104.90 billion, a price-to-earnings ratio of 33.25, a P/E/G ratio of 2.50 and a beta of 1.06. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s dividend payout ratio is currently 112.28%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PLD shares. Scotiabank cut their price target on Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. The Goldman Sachs Group cut their target price on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Argus lowered their price target on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Mizuho lowered their price target on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Finally, Robert W. Baird lowered their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $129.76.

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.