Creekmur Asset Management LLC Purchases Shares of 1,021 Prologis, Inc. (NYSE:PLD)

Creekmur Asset Management LLC acquired a new position in Prologis, Inc. (NYSE:PLDFree Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,021 shares of the real estate investment trust’s stock, valued at approximately $136,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in Prologis by 7.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 460,514 shares of the real estate investment trust’s stock valued at $51,674,000 after purchasing an additional 31,840 shares in the last quarter. Johnson Investment Counsel Inc. grew its stake in shares of Prologis by 1.6% in the third quarter. Johnson Investment Counsel Inc. now owns 17,666 shares of the real estate investment trust’s stock valued at $1,982,000 after buying an additional 273 shares in the last quarter. Kesler Norman & Wride LLC raised its holdings in shares of Prologis by 29.6% during the 3rd quarter. Kesler Norman & Wride LLC now owns 8,464 shares of the real estate investment trust’s stock valued at $950,000 after buying an additional 1,932 shares during the period. Kestra Advisory Services LLC acquired a new position in Prologis during the 3rd quarter worth approximately $260,000. Finally, Baillie Gifford & Co. boosted its holdings in Prologis by 25.0% in the 3rd quarter. Baillie Gifford & Co. now owns 408,138 shares of the real estate investment trust’s stock worth $45,797,000 after acquiring an additional 81,598 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Price Performance

PLD traded down $0.09 on Friday, reaching $112.29. The company had a trading volume of 3,672,418 shares, compared to its average volume of 4,381,804. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a market capitalization of $103.96 billion, a P/E ratio of 32.83, a PEG ratio of 2.50 and a beta of 1.07. The company has a fifty day moving average of $109.18 and a 200-day moving average of $122.33. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be issued a $0.96 dividend. The ex-dividend date is Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.42%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Argus decreased their price objective on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Scotiabank lowered their price objective on Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. Royal Bank of Canada dropped their price objective on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. The Goldman Sachs Group reduced their target price on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, BMO Capital Markets lowered shares of Prologis from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $145.00 to $112.00 in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

Check Out Our Latest Report on Prologis

About Prologis

(Free Report)

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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