Berkshire Bank Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Berkshire Bank boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,195 shares of the real estate investment trust’s stock after purchasing an additional 95 shares during the period. Berkshire Bank’s holdings in Prologis were worth $443,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PLD shares. Royal Bank of Canada upped their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $124.00 to $123.00 in a research note on Monday, January 6th. Barclays boosted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, Raymond James restated an “outperform” rating and issued a $125.00 target price (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Up 2.0 %

PLD stock opened at $121.29 on Tuesday. The business’s 50-day moving average price is $110.49 and its 200-day moving average price is $118.41. The stock has a market cap of $112.33 billion, a P/E ratio of 30.32, a PEG ratio of 3.19 and a beta of 1.09. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.17%. Prologis’s payout ratio is currently 96.00%.

Prologis 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.