Summit Trail Advisors LLC Acquires 597 Shares of Prologis, Inc. (NYSE:PLD)

Summit Trail Advisors LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,074 shares of the real estate investment trust’s stock after purchasing an additional 597 shares during the period. Summit Trail Advisors LLC’s holdings in Prologis were worth $1,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PLD. Massachusetts Financial Services Co. MA boosted its stake in shares of Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after buying an additional 1,034,211 shares during the last quarter. FMR LLC raised its stake in shares of Prologis by 1.2% during the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after purchasing an additional 197,693 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Prologis by 0.7% in the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after buying an additional 92,036 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Prologis by 2.3% in the third quarter. Principal Financial Group Inc. now owns 12,201,657 shares of the real estate investment trust’s stock valued at $1,369,140,000 after buying an additional 268,667 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Prologis by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,344,542 shares of the real estate investment trust’s stock worth $1,048,551,000 after acquiring an additional 121,159 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of several recent analyst reports. Mizuho reaffirmed a “neutral” rating and issued a $130.00 target price on shares of Prologis in a report on Tuesday, April 2nd. Argus cut their price target on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. UBS Group decreased their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. StockNews.com downgraded Prologis from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Finally, Barclays lowered their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.12.

Prologis Trading Down 1.1 %

Shares of PLD stock traded down $1.19 during mid-day trading on Monday, reaching $104.70. 4,259,743 shares of the stock traded hands, compared to its average volume of 3,559,998. The stock’s fifty day simple moving average is $122.11 and its two-hundred day simple moving average is $121.84. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. The company has a market cap of $96.94 billion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Friday, March 15th. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.67%. Prologis’s payout ratio is presently 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.