Kowal Investment Group LLC Purchases New Holdings in Prologis, Inc. (NYSE:PLD)

Kowal Investment Group LLC purchased a new stake in shares of Prologis, Inc. (NYSE:PLD) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,609 shares of the real estate investment trust’s stock, valued at approximately $210,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Red Door Wealth Management LLC grew its holdings in Prologis by 7.9% during the 1st quarter. Red Door Wealth Management LLC now owns 29,850 shares of the real estate investment trust’s stock valued at $3,887,000 after purchasing an additional 2,177 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new stake in Prologis in the 1st quarter valued at about $207,000. River Street Advisors LLC boosted its position in Prologis by 12.8% in the 1st quarter. River Street Advisors LLC now owns 2,178 shares of the real estate investment trust’s stock valued at $284,000 after buying an additional 247 shares during the period. Physician Wealth Advisors Inc. boosted its position in Prologis by 11.4% in the 1st quarter. Physician Wealth Advisors Inc. now owns 1,885 shares of the real estate investment trust’s stock valued at $245,000 after buying an additional 193 shares during the period. Finally, Guidance Capital Inc. boosted its position in Prologis by 9.0% in the 1st quarter. Guidance Capital Inc. now owns 4,898 shares of the real estate investment trust’s stock valued at $638,000 after buying an additional 403 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on PLD. The Goldman Sachs Group reduced their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Scotiabank reduced their price objective 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. Mizuho reduced their price objective on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Argus reduced their price objective on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Evercore ISI reduced their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $129.76.

Prologis Stock Down 0.3 %

NYSE:PLD opened at $111.95 on Tuesday. The firm has a market capitalization of $103.65 billion, a P/E ratio of 32.73, a PEG ratio of 2.50 and a beta of 1.07. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company’s fifty day moving average price is $108.14 and its 200-day moving average price is $121.77. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were paid a $0.96 dividend. The ex-dividend date was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.43%. Prologis’s payout ratio is currently 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.