Transcend Capital Advisors LLC Buys 190 Shares of Prologis, Inc. (NYSE:PLD)

Transcend Capital Advisors LLC increased its position in Prologis, Inc. (NYSE:PLD) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,646 shares of the real estate investment trust’s stock after buying an additional 190 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Prologis were worth $619,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. purchased a new stake in Prologis in the 4th quarter worth approximately $28,000. FinTrust Capital Advisors LLC boosted its holdings in shares of Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 232 shares in the last quarter. Salem Investment Counselors Inc. bought a new stake in Prologis during the fourth quarter worth about $37,000. FNY Investment Advisers LLC purchased a new stake in Prologis in the fourth quarter worth about $39,000. Finally, Webster Bank N. A. increased its stake in shares of Prologis by 3,600.0% during the fourth quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 324 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PLD. Barclays lowered their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday. UBS Group reduced their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Royal Bank of Canada upped their target price on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Argus reduced their price target 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. Finally, Morgan Stanley upped their price objective on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $133.53.

Prologis Price Performance

NYSE PLD opened at $105.03 on Tuesday. The company has a 50-day moving average price of $124.49 and a 200-day moving average price of $121.98. Prologis, Inc. has a 52 week low of $96.64 and a 52 week 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 firm has a market capitalization of $97.24 billion, a P/E ratio of 30.71, a PEG ratio of 2.17 and a beta of 1.00.

Prologis Increases Dividend

The firm also recently declared 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 represents a $3.84 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Prologis Profile

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.