Prologis, Inc. (NYSE:PLD) Stake Boosted by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management increased its stake in Prologis, Inc. (NYSE:PLD) by 42.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 623 shares of the real estate investment trust’s stock after purchasing an additional 185 shares during the period. Hanson & Doremus Investment Management’s holdings in Prologis were worth $66,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its stake in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the last quarter. Dunhill Financial LLC increased its holdings 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 worth $33,000 after acquiring an additional 182 shares during the period. Hara Capital LLC bought a new stake in Prologis in the 3rd quarter valued at about $48,000. Coastline Trust Co bought a new position in Prologis in the 3rd quarter worth about $52,000. Finally, Fortitude Family Office LLC raised its holdings in shares of Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 240 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PLD. Raymond James reissued an “outperform” rating and set a $125.00 target price (down previously from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. Robert W. Baird upped their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday. Mizuho lowered their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, UBS Group increased their target price on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and two have 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 a consensus target price of $128.78.

Prologis Price Performance

PLD opened at $120.66 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The stock has a fifty day moving average price of $110.83 and a 200 day moving average price of $118.42. The stock has a market cap of $111.75 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 3.19 and a beta of 1.09.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.18%. Prologis’s payout ratio is 96.00%.

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.