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

Perigon Wealth Management LLC lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 24.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,812 shares of the real estate investment trust’s stock after buying an additional 1,518 shares during the quarter. Perigon Wealth Management LLC’s holdings in Prologis were worth $867,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Empirical Asset Management LLC raised its holdings in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after acquiring an additional 52,963 shares during the last quarter. Sunflower Bank N.A. purchased a new stake in shares of Prologis in the third quarter valued at $249,000. Cardano Risk Management B.V. increased its stake in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after purchasing an additional 25,266 shares during the last quarter. Coronation Fund Managers Ltd. purchased a new position in Prologis during the second quarter worth about $878,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in Prologis by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after buying an additional 29,400 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $120.66 on Friday. The company’s fifty day moving average price is $110.83 and its two-hundred day moving average price is $118.42. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The firm has a market capitalization of $111.75 billion, a P/E ratio of 30.17, a P/E/G ratio of 3.19 and a beta of 1.09. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 3.18%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Analysts Set New Price Targets

A number of research firms have recently commented on PLD. 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. Wolfe Research cut their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.