Brighton Jones LLC Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Brighton Jones LLC lowered its holdings in Prologis, Inc. (NYSE:PLD) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 14,219 shares of the real estate investment trust’s stock after selling 194 shares during the period. Brighton Jones LLC’s holdings in Prologis were worth $1,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Thompson Investment Management Inc. bought a new position in Prologis during the fourth quarter valued at about $28,000. FinTrust Capital Advisors LLC boosted its stake in Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 232 shares during the last quarter. Salem Investment Counselors Inc. purchased a new position in Prologis in the fourth quarter valued at about $37,000. FNY Investment Advisers LLC bought a new position in shares of Prologis during the 4th quarter valued at approximately $39,000. Finally, Valley National Advisers Inc. increased its stake in shares of Prologis by 178.6% during the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PLD shares. Raymond James increased their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. StockNews.com downgraded Prologis from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Barclays decreased their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Finally, Argus reduced their target price on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.35.

Prologis Price Performance

PLD opened at $102.05 on Wednesday. The stock has a market capitalization of $94.48 billion, a P/E ratio of 29.84, a PEG ratio of 2.18 and a beta of 1.00. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The stock has a 50-day moving average price of $123.87 and a 200-day moving average price of $121.92.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid 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 3.76%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is 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.