Bartlett & CO. Wealth Management LLC Buys 108 Shares of Prologis, Inc. (NYSE:PLD)

Bartlett & CO. Wealth Management LLC lifted its stake in Prologis, Inc. (NYSE:PLD) by 4.6% during the fourth quarter, Holdings Channel reports. The fund owned 2,450 shares of the real estate investment trust’s stock after acquiring an additional 108 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Prologis were worth $259,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Sunbelt Securities Inc. increased its position in Prologis by 640.0% in the 2nd 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 during the period. Dunhill Financial LLC increased its position in 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 buying an additional 182 shares during the period. Hara Capital LLC bought a new position in Prologis in the 3rd quarter worth approximately $48,000. Coastline Trust Co bought a new position in Prologis in the 3rd quarter worth approximately $52,000. Finally, Fortitude Family Office LLC increased its position in Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 240 shares during the period. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Raymond James reissued an “outperform” rating and set a $125.00 price objective (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Finally, Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average target price of $128.67.

Prologis Stock Performance

NYSE:PLD opened at $118.90 on Friday. The stock has a market cap of $110.12 billion, a P/E ratio of 29.73, a PEG ratio of 3.19 and a beta of 1.09. The stock has a 50 day simple moving average of $110.38 and a 200 day simple moving average of $118.34. 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.

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 issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.23%. Prologis’s payout ratio is currently 96.00%.

Prologis 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.