Prologis, Inc. (NYSE:PLD) Position Raised by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 34.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 204,955 shares of the real estate investment trust’s stock after acquiring an additional 52,469 shares during the period. New York Life Investment Management LLC’s holdings in Prologis were worth $27,321,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. RMR Wealth Builders raised its holdings in shares of Prologis by 72.8% during the third quarter. RMR Wealth Builders now owns 2,887 shares of the real estate investment trust’s stock valued at $324,000 after buying an additional 1,216 shares during the last quarter. Accurate Wealth Management LLC raised its stake in Prologis by 20.2% during the 3rd quarter. Accurate Wealth Management LLC now owns 2,955 shares of the real estate investment trust’s stock valued at $320,000 after acquiring an additional 497 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Prologis by 5.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 78,909 shares of the real estate investment trust’s stock worth $8,854,000 after acquiring an additional 3,852 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Prologis by 0.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 480,522 shares of the real estate investment trust’s stock worth $53,919,000 after purchasing an additional 2,543 shares in the last quarter. Finally, Clear Creek Financial Management LLC increased its holdings in shares of Prologis by 26.3% during the third quarter. Clear Creek Financial Management LLC now owns 3,377 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 704 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLD. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Argus lowered their target price on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Raymond James upped their target price on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. Robert W. Baird cut their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $132.35.

Prologis Trading Down 0.2 %

NYSE PLD traded down $0.17 on Wednesday, hitting $101.88. The company’s stock had a trading volume of 5,526,115 shares, compared to its average volume of 3,525,583. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company’s 50-day moving average is $123.87 and its 200 day moving average is $121.92. The firm has a market cap of $94.32 billion, a PE ratio of 29.84, a PEG ratio of 2.18 and a beta of 1.00.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a dividend of $0.96 per share. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.