Berkshire Bank Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

Berkshire Bank boosted its stake in Prologis, Inc. (NYSE:PLD) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,195 shares of the real estate investment trust’s stock after purchasing an additional 95 shares during the quarter. Berkshire Bank’s holdings in Prologis were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. lifted its holdings in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares during the last quarter. Dunhill Financial LLC raised its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares in the last quarter. Hara Capital LLC bought a new stake in Prologis during the third quarter worth about $48,000. Coastline Trust Co purchased a new position in shares of Prologis in the 3rd quarter worth about $52,000. Finally, Fortitude Family Office LLC increased its position in shares of Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

Shares of PLD stock opened at $121.29 on Tuesday. The company’s fifty day moving average price is $110.49 and its 200-day moving average price is $118.41. The stock has a market cap of $112.33 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Scotiabank dropped their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $124.00 to $123.00 in a research report on Monday, January 6th. Royal Bank of Canada upped their price target on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday. Finally, BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $128.78.

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.