Janney Montgomery Scott LLC Increases Position in Prologis, Inc. (NYSE:PLD)

Janney Montgomery Scott LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 2.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 584,267 shares of the real estate investment trust’s stock after purchasing an additional 13,204 shares during the period. Janney Montgomery Scott LLC’s holdings in Prologis were worth $76,083,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PLD. Valeo Financial Advisors LLC raised its stake in Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares during the last quarter. Norges Bank bought a new position in shares of Prologis during the fourth quarter valued at $1,074,648,000. Capital World Investors raised its position in shares of Prologis by 1,252.9% in the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after purchasing an additional 6,765,582 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Prologis by 15,575.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,027,075 shares of the real estate investment trust’s stock worth $136,909,000 after purchasing an additional 1,020,523 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Prologis by 14.0% during the 4th quarter. Wellington Management Group LLP now owns 6,568,086 shares of the real estate investment trust’s stock valued at $875,526,000 after purchasing an additional 808,336 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Robert W. Baird lowered their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Evercore ISI reduced their target price on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday, April 18th. Scotiabank lowered their price target on Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 16th. Finally, Argus reduced their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $129.76.

Prologis Price Performance

Prologis stock traded up $1.16 during mid-day trading on Friday, hitting $114.46. The stock had a trading volume of 2,252,408 shares, compared to its average volume of 3,611,867. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $105.97 billion, a P/E ratio of 33.47, a P/E/G ratio of 2.52 and a beta of 1.06. The firm’s 50 day moving average is $109.07 and its 200 day moving average is $121.21.

Prologis Dividend Announcement

The firm also recently announced 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 3.35%. The ex-dividend date was Monday, June 17th. Prologis’s dividend payout ratio is currently 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 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.