Naviter Wealth LLC Purchases 8,599 Shares of Prologis, Inc. (NYSE:PLD)

Naviter Wealth LLC grew its stake in Prologis, Inc. (NYSE:PLD) by 14.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,765 shares of the real estate investment trust’s stock after acquiring an additional 8,599 shares during the quarter. Prologis comprises about 1.5% of Naviter Wealth LLC’s portfolio, making the stock its 11th biggest position. Naviter Wealth LLC’s holdings in Prologis were worth $8,955,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLD. Optimum Investment Advisors acquired a new stake in shares of Prologis during the 1st quarter worth approximately $26,000. True Wealth Design LLC acquired a new position in shares of Prologis in the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new stake in shares of Prologis in the fourth quarter worth $28,000. JFS Wealth Advisors LLC boosted its stake in Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 168 shares during the last quarter. Finally, Clear Investment Research LLC increased its holdings in shares of Prologis by 188.1% in the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 158 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PLD. BMO Capital Markets cut shares of Prologis from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. Robert W. Baird reduced their target price on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. dropped their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. StockNews.com downgraded Prologis from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Finally, Barclays cut their price target on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.76.

Prologis Price Performance

Shares of NYSE:PLD traded up $1.26 during mid-day trading on Tuesday, reaching $113.21. The stock had a trading volume of 2,805,900 shares, compared to its average volume of 3,747,795. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average price is $108.29 and its 200 day moving average price is $121.60. The company has a market cap of $104.81 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 2.50 and a beta of 1.06.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.39%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.