Prologis, Inc. (NYSE:PLD) Stake Lifted by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC raised its stake in Prologis, Inc. (NYSE:PLD) by 182,067.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,877,279 shares of the real estate investment trust’s stock after acquiring an additional 48,850,448 shares during the quarter. Prologis makes up 66.6% of Valeo Financial Advisors LLC’s holdings, making the stock its biggest position. Valeo Financial Advisors LLC owned approximately 5.28% of Prologis worth $6,364,799,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Price T Rowe Associates Inc. MD increased its holdings in Prologis by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after acquiring an additional 365,904 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Prologis by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock worth $1,642,997,000 after buying an additional 123,902 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Prologis by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock worth $1,268,992,000 after buying an additional 175,276 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Prologis by 0.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,981,242 shares of the real estate investment trust’s stock worth $1,008,898,000 after buying an additional 76,605 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Prologis in the 4th quarter worth $1,074,648,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLD. UBS Group cut their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Mizuho cut their price objective on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. JPMorgan Chase & Co. cut their price objective on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. StockNews.com cut shares of Prologis from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Finally, Robert W. Baird dropped their price target 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 analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

Prologis Stock Performance

PLD traded up $0.09 during trading on Wednesday, hitting $113.30. The company’s stock had a trading volume of 1,339,306 shares, compared to its average volume of 3,729,926. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The firm has a market cap of $104.90 billion, a PE ratio of 33.25, a P/E/G ratio of 2.50 and a beta of 1.06. The business’s 50 day simple moving average is $108.46 and its 200-day simple moving average is $121.45.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were given a dividend of $0.96 per share. The ex-dividend date was Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.39%. Prologis’s payout ratio is 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.