Prologis, Inc. (NYSE:PLD) Shares Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC raised its stake in Prologis, Inc. (NYSE:PLD) by 24.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,812 shares of the real estate investment trust’s stock after acquiring an additional 1,518 shares during the period. Perigon Wealth Management LLC’s holdings in Prologis were worth $867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Coronation Fund Managers Ltd. purchased a new position in Prologis during the 2nd quarter worth approximately $878,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Prologis by 1.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 56,554 shares of the real estate investment trust’s stock valued at $6,352,000 after acquiring an additional 749 shares during the period. Sunbelt Securities Inc. grew its position in shares of Prologis by 640.0% during the second 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. Cetera Investment Advisers grew its position in shares of Prologis by 6.9% during the second quarter. Cetera Investment Advisers now owns 170,278 shares of the real estate investment trust’s stock worth $19,124,000 after acquiring an additional 10,967 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Prologis in the 2nd quarter valued at $17,468,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $120.66 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The stock has a market cap of $111.75 billion, a PE ratio of 30.17, a P/E/G ratio of 3.19 and a beta of 1.09. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The stock has a fifty day moving average price of $110.83 and a 200 day moving average price of $118.42.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.18%. Prologis’s dividend payout ratio is presently 96.00%.

Analyst Ratings Changes

A number of analysts recently weighed in on PLD shares. BTIG Research decreased their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Barclays raised their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Robert W. Baird upped their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday. Scotiabank lowered their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $120.00 to $104.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Prologis currently has a consensus 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.