Avidian Wealth Solutions LLC Has $932,000 Position in Prologis, Inc. (NYSE:PLD)

Avidian Wealth Solutions LLC grew its holdings in Prologis, Inc. (NYSE:PLD) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,155 shares of the real estate investment trust’s stock after purchasing an additional 217 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Prologis were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Valeo Financial Advisors LLC boosted its holdings in shares of Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after buying an additional 48,850,448 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Prologis by 3.0% in the fourth 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 purchasing an additional 365,904 shares during the period. Principal Financial Group Inc. increased its stake in Prologis by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock valued at $1,642,997,000 after purchasing an additional 123,902 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Prologis by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock valued at $1,268,992,000 after purchasing an additional 175,276 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Prologis during the fourth quarter valued at about $1,074,648,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock traded up $2.09 during trading on Wednesday, hitting $116.54. The company’s stock had a trading volume of 2,997,498 shares, compared to its average volume of 3,689,566. The business has a fifty day moving average of $109.50 and a 200-day moving average of $120.81. The company has a market cap of $107.90 billion, a PE ratio of 33.80, a P/E/G ratio of 2.55 and a beta of 1.06. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Announces Dividend

The firm also recently announced 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. This represents a $3.84 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Monday, June 17th. Prologis’s dividend payout ratio is presently 112.28%.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research analyst reports. UBS Group decreased their target price on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Scotiabank decreased their price objective on Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a report on Thursday, May 16th. Barclays cut their target price on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. JPMorgan Chase & Co. decreased their price target 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. Finally, Royal Bank of Canada lowered their price objective on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

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.