First Trust Direct Indexing L.P. Raises Stock Holdings in Prologis, Inc. (NYSE:PLD)

First Trust Direct Indexing L.P. raised its holdings in Prologis, Inc. (NYSE:PLD) by 19.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,339 shares of the real estate investment trust’s stock after purchasing an additional 4,035 shares during the period. First Trust Direct Indexing L.P.’s holdings in Prologis were worth $3,169,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisor Resource Council acquired a new stake in Prologis in the 1st quarter valued at $442,000. Mainsail Financial Group LLC grew its position in shares of Prologis by 1.7% in the first quarter. Mainsail Financial Group LLC now owns 6,223 shares of the real estate investment trust’s stock valued at $810,000 after purchasing an additional 106 shares during the period. Norden Group LLC increased its stake in shares of Prologis by 1,405.9% during the first quarter. Norden Group LLC now owns 65,416 shares of the real estate investment trust’s stock worth $8,518,000 after purchasing an additional 61,072 shares in the last quarter. Bourgeon Capital Management LLC raised its position in shares of Prologis by 1.6% during the 1st quarter. Bourgeon Capital Management LLC now owns 52,405 shares of the real estate investment trust’s stock worth $6,824,000 after purchasing an additional 834 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Prologis by 0.7% in the 1st quarter. State of Alaska Department of Revenue now owns 542,831 shares of the real estate investment trust’s stock valued at $70,687,000 after buying an additional 3,668 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Up 0.1 %

Shares of PLD stock traded up $0.09 during trading on Thursday, hitting $113.30. 1,339,492 shares of the stock traded hands, compared to its average volume of 3,843,346. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The firm has a market capitalization of $104.90 billion, a P/E ratio of 33.13, a price-to-earnings-growth ratio of 2.52 and a beta of 1.06. The firm’s fifty day moving average price is $108.66 and its 200-day moving average price is $121.39. 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 announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.39%. Prologis’s dividend payout ratio is currently 112.28%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLD. Evercore ISI cut their price objective on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. Royal Bank of Canada reduced their price objective on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. JPMorgan Chase & Co. decreased their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Mizuho dropped their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Finally, StockNews.com cut shares of Prologis from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

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.