OLD Point Trust & Financial Services N A Makes New $124,000 Investment in Prologis, Inc. (NYSE:PLD)

OLD Point Trust & Financial Services N A acquired a new position in shares of Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 932 shares of the real estate investment trust’s stock, valued at approximately $124,000.

Other large investors also recently bought and sold shares of the company. Thompson Investment Management Inc. purchased a new position in Prologis during the 4th quarter worth $28,000. JFS Wealth Advisors LLC grew its stake in shares of Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 168 shares during the period. Clear Investment Research LLC grew its stake in shares of Prologis by 188.1% during the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 158 shares during the period. Salem Investment Counselors Inc. acquired a new position in shares of Prologis during the 4th quarter worth $37,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Prologis during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.2 %

NYSE PLD traded up $0.19 during mid-day trading on Friday, hitting $110.20. The company’s stock had a trading volume of 4,786,890 shares, compared to its average volume of 4,022,891. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The stock’s fifty day simple moving average is $110.55 and its two-hundred day simple moving average is $122.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $102.03 billion, a P/E ratio of 32.22, a price-to-earnings-growth ratio of 2.45 and a beta of 1.07.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.48%. Prologis’s payout ratio is 112.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. UBS Group lowered their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. BMO Capital Markets cut shares of Prologis from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $145.00 to $112.00 in a research note on Monday, April 22nd. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, The Goldman Sachs Group lowered their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $129.76.

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.