Trust Point Inc. Buys 292 Shares of Prologis, Inc. (NYSE:PLD)

Trust Point Inc. increased its holdings in Prologis, Inc. (NYSE:PLD) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,509 shares of the real estate investment trust’s stock after acquiring an additional 292 shares during the quarter. Trust Point Inc.’s holdings in Prologis were worth $371,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Dunhill Financial LLC lifted its stake in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the period. Hara Capital LLC purchased a new stake in Prologis in the third quarter worth about $48,000. Coastline Trust Co purchased a new stake in Prologis in the third quarter worth about $52,000. Fortitude Family Office LLC lifted its stake in Prologis by 120.6% in the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 240 shares during the period. Finally, Reston Wealth Management LLC purchased a new stake in Prologis in the third quarter worth about $70,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE:PLD opened at $118.82 on Thursday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company’s 50 day moving average is $111.07 and its 200 day moving average is $118.29. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market cap of $110.05 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.23%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Wall Street Analyst Weigh In

Several analysts have commented on PLD shares. Scotiabank decreased their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. BTIG Research decreased their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Barclays increased their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Mizuho decreased their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.78.

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.