Prologis, Inc. (NYSE:PLD) Shares Acquired by Verde Capital Management

Verde Capital Management raised its position in Prologis, Inc. (NYSE:PLD) by 3.2% during the fourth quarter, Holdings Channel reports. The firm owned 16,325 shares of the real estate investment trust’s stock after buying an additional 510 shares during the quarter. Verde Capital Management’s holdings in Prologis were worth $1,726,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PLD. Sunbelt Securities Inc. grew its position in shares of Prologis by 640.0% during 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 boosted its position in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the period. Hara Capital LLC purchased a new position in shares of Prologis during the third quarter worth approximately $48,000. Coastline Trust Co purchased a new position in Prologis in the 3rd quarter valued at $52,000. Finally, Fortitude Family Office LLC boosted its position in shares of Prologis by 120.6% during 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. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

PLD opened at $118.38 on Friday. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The business’s 50-day simple moving average is $110.31 and its 200 day simple moving average is $118.33. The firm has a market capitalization of $109.64 billion, a PE ratio of 29.59, a PEG ratio of 3.25 and a beta of 1.09.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Analysts Set New Price Targets

Several research analysts recently issued reports on PLD shares. Wolfe Research cut their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Truist Financial cut their price target on shares of Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a report on Friday, January 17th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, BTIG Research cut their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $128.67.

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.