Strong Tower Advisory Services Acquires 590 Shares of Prologis, Inc. (NYSE:PLD)

Strong Tower Advisory Services grew its stake in Prologis, Inc. (NYSE:PLD) by 30.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,550 shares of the real estate investment trust’s stock after acquiring an additional 590 shares during the quarter. Strong Tower Advisory Services’ holdings in Prologis were worth $270,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Coronation Fund Managers Ltd. bought a new position in shares of Prologis during the 2nd quarter worth approximately $878,000. Edgestream Partners L.P. purchased a new position in Prologis in the second quarter worth $241,000. Blair William & Co. IL increased its position in shares of Prologis by 6.1% during the second quarter. Blair William & Co. IL now owns 30,965 shares of the real estate investment trust’s stock worth $3,478,000 after purchasing an additional 1,779 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of Prologis by 1.2% during the 2nd quarter. Ieq Capital LLC now owns 31,660 shares of the real estate investment trust’s stock valued at $3,556,000 after purchasing an additional 380 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Prologis by 81.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 14,750 shares of the real estate investment trust’s stock worth $1,656,000 after purchasing an additional 6,611 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

NYSE:PLD opened at $109.51 on Monday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a market cap of $101.43 billion, a P/E ratio of 33.09, a P/E/G ratio of 2.85 and a beta of 1.09. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $110.34 and its 200-day moving average price is $118.33.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.51%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Raymond James restated an “outperform” rating and set a $125.00 price target (down previously from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. Wolfe Research reduced their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $124.00 to $123.00 in a research note on Monday, January 6th. Finally, BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.