Optimum Investment Advisors Acquires New Holdings in Prologis, Inc. (NYSE:PLD)

Optimum Investment Advisors acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 200 shares of the real estate investment trust’s stock, valued at approximately $26,000.

Several other hedge funds also recently bought and sold shares of PLD. Kestra Advisory Services LLC purchased a new position in Prologis during the third quarter valued at approximately $260,000. Wolverine Asset Management LLC purchased a new position in Prologis in the 3rd quarter worth approximately $89,000. Rathbones Group PLC purchased a new position in Prologis in the 3rd quarter worth approximately $287,000. Acadian Asset Management LLC grew its stake in Prologis by 48.1% in the 3rd quarter. Acadian Asset Management LLC now owns 105,703 shares of the real estate investment trust’s stock worth $11,858,000 after buying an additional 34,325 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Prologis by 9.0% in the 3rd quarter. Clearbridge Investments LLC now owns 613,942 shares of the real estate investment trust’s stock worth $68,890,000 after buying an additional 50,948 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on PLD shares. Scotiabank cut their price target on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. UBS Group lowered their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Argus lowered 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. StockNews.com lowered shares of Prologis from a “hold” rating to a “sell” rating in a report on Friday. Finally, 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.76.

Prologis Stock Up 0.2 %

NYSE:PLD opened at $109.40 on Friday. The firm’s 50-day moving average price is $107.93 and its 200-day moving average price is $122.15. The company has a market capitalization of $101.29 billion, a PE ratio of 31.99, a P/E/G ratio of 2.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, June 17th. Prologis’s dividend payout ratio is presently 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.