HighPoint Advisor Group LLC Invests $1.38 Million in Prologis, Inc. (NYSE:PLD)

HighPoint Advisor Group LLC acquired a new position in Prologis, Inc. (NYSE:PLD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,861 shares of the real estate investment trust’s stock, valued at approximately $1,381,000.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Prologis during the 4th quarter valued at $1,074,648,000. Capital World Investors grew its holdings in Prologis by 1,252.9% during the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after purchasing an additional 6,765,582 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Prologis by 15,575.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,027,075 shares of the real estate investment trust’s stock valued at $136,909,000 after purchasing an additional 1,020,523 shares in the last quarter. Wellington Management Group LLP grew its holdings in Prologis by 14.0% during the 4th quarter. Wellington Management Group LLP now owns 6,568,086 shares of the real estate investment trust’s stock valued at $875,526,000 after purchasing an additional 808,336 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in Prologis by 15.8% during the 4th quarter. Capital Research Global Investors now owns 5,296,833 shares of the real estate investment trust’s stock valued at $706,068,000 after purchasing an additional 723,807 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PLD shares. Robert W. Baird lowered their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Argus decreased their price objective on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada decreased their price objective on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a report on Monday, May 6th. BMO Capital Markets lowered shares of Prologis from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. Finally, Barclays decreased their price objective on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $129.76.

Prologis Trading Down 1.1 %

Shares of NYSE:PLD opened at $110.05 on Wednesday. The company has a market cap of $101.89 billion, a PE ratio of 32.18, a P/E/G ratio of 2.50 and a beta of 1.07. The company’s 50-day moving average price is $108.55 and its 200 day moving average price is $122.38. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a $0.96 dividend. The ex-dividend date is Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.49%. Prologis’s dividend payout ratio is presently 112.28%.

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.