Prologis, Inc. (NYSE:PLD) Shares Acquired by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC boosted its stake in Prologis, Inc. (NYSE:PLD) by 2.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,167 shares of the real estate investment trust’s stock after buying an additional 204 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Prologis were worth $933,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Optimum Investment Advisors bought a new position in Prologis during the first quarter valued at about $26,000. True Wealth Design LLC acquired a new position in shares of Prologis in the 4th quarter worth approximately $27,000. Thompson Investment Management Inc. bought a new stake in shares of Prologis in the 4th quarter worth approximately $28,000. JFS Wealth Advisors LLC lifted its stake in Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares during the last quarter. Finally, Clear Investment Research LLC boosted its holdings in Prologis by 188.1% during the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 0.1 %

Shares of Prologis stock opened at $113.30 on Friday. The stock has a 50-day simple moving average of $108.86 and a 200-day simple moving average of $121.34. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The firm has a market cap of $104.90 billion, a price-to-earnings ratio of 33.13, a P/E/G ratio of 2.52 and a beta of 1.06. 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 declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.39%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. StockNews.com downgraded Prologis from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. UBS Group decreased their price target on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Mizuho cut their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Argus dropped their target price on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

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.