Prologis, Inc. (NYSE:PLD) Stake Boosted by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 6.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,446 shares of the real estate investment trust’s stock after acquiring an additional 138 shares during the period. Meeder Asset Management Inc.’s holdings in Prologis were worth $319,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Optimum Investment Advisors bought a new stake in Prologis during the first quarter valued at about $26,000. True Wealth Design LLC bought a new stake in Prologis during the fourth quarter valued at about $27,000. Thompson Investment Management Inc. bought a new stake in Prologis during the fourth quarter valued at about $28,000. JFS Wealth Advisors LLC boosted its holdings in Prologis by 254.5% during 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 boosted its holdings in Prologis by 188.1% during 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 currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PLD shares. The Goldman Sachs Group decreased their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada cut their price objective on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Argus cut their price objective on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Scotiabank cut their price objective on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Finally, Robert W. Baird cut their price objective on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.94.

Prologis Trading Up 0.8 %

Shares of PLD stock traded up $0.99 on Monday, hitting $121.14. The stock had a trading volume of 3,264,093 shares, compared to its average volume of 3,692,890. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The firm has a market cap of $112.16 billion, a P/E ratio of 35.42, a PEG ratio of 2.85 and a beta of 1.06. 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 company has a fifty day moving average price of $110.73 and a two-hundred day moving average price of $120.41.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Monday, June 17th. Prologis’s dividend payout ratio (DPR) is 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.