Abundance Wealth Counselors Increases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Abundance Wealth Counselors boosted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 7.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,091 shares of the real estate investment trust’s stock after buying an additional 1,089 shares during the period. Abundance Wealth Counselors’ holdings in Prologis were worth $1,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Prologis Trading Down 1.3 %

PLD opened at $119.14 on Friday. The firm has a market capitalization of $110.34 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09. The company’s 50 day simple moving average is $111.03 and its two-hundred day simple moving average is $118.42. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43.

Prologis Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is currently 96.00%.

Wall Street Analyst Weigh In

PLD has been the subject of several recent research reports. UBS Group raised their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, Truist Financial increased their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.