Prologis, Inc. (NYSE:PLD) Shares Bought by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. grew its stake in Prologis, Inc. (NYSE:PLD) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,776 shares of the real estate investment trust’s stock after purchasing an additional 1,124 shares during the period. Geneos Wealth Management Inc.’s holdings in Prologis were worth $3,993,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after acquiring an additional 8,545,336 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after purchasing an additional 2,138,693 shares in the last quarter. AMF Tjanstepension AB lifted its stake in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Prologis by 547.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,034,000 shares of the real estate investment trust’s stock worth $116,129,000 after buying an additional 874,411 shares in the last quarter. Finally, Cardano Risk Management B.V. acquired a new stake in Prologis during the third quarter valued at $109,579,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $118.90 on Friday. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The firm has a 50 day moving average of $110.49 and a two-hundred day moving average of $118.37. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $110.12 billion, a PE ratio of 29.73, a P/E/G ratio of 3.19 and a beta of 1.09.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid 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 96.00%.

Analysts Set New Price Targets

PLD has been the subject of several recent analyst reports. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday. BTIG Research dropped their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.