West Wealth Group LLC Has $656,000 Holdings in Prologis, Inc. (NYSE:PLD)

West Wealth Group LLC increased its position in Prologis, Inc. (NYSE:PLD) by 1.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,206 shares of the real estate investment trust’s stock after purchasing an additional 103 shares during the period. West Wealth Group LLC’s holdings in Prologis were worth $656,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. Empirical Asset Management LLC grew its position in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 52,963 shares in the last quarter. Sunflower Bank N.A. acquired a new stake in shares of Prologis during the 3rd quarter valued at $249,000. Cardano Risk Management B.V. grew its holdings in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after acquiring an additional 25,266 shares in the last quarter. Coronation Fund Managers Ltd. acquired a new position in shares of Prologis in the second quarter worth $878,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Prologis by 2.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after acquiring an additional 29,400 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Up 0.3 %

Shares of PLD stock opened at $118.90 on Monday. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The firm has a market cap of $110.12 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. The stock has a 50 day moving average of $110.49 and a 200-day moving average of $118.41.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is currently 96.00%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $124.00 to $123.00 in a research note on Monday, January 6th. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Scotiabank dropped their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a report on Wednesday, December 4th. Raymond James reiterated an “outperform” rating and issued a $125.00 target price (down from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. Finally, Mizuho dropped their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $128.67.

About Prologis

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.