Hohimer Wealth Management LLC Acquires New Stake in Prologis, Inc. (NYSE:PLD)

Hohimer Wealth Management LLC acquired a new position in shares of Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,627 shares of the real estate investment trust’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLD. Thompson Investment Management Inc. bought a new position in Prologis during the 4th quarter worth approximately $28,000. JFS Wealth Advisors LLC raised its stake in Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 168 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in Prologis in the fourth quarter valued at $37,000. Private Wealth Management Group LLC bought a new stake in Prologis during the fourth quarter valued at $38,000. Finally, FNY Investment Advisers LLC acquired a new stake in Prologis during the 4th quarter worth about $39,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on PLD. Scotiabank decreased their target price 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. Barclays reduced their price objective on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. BMO Capital Markets downgraded shares of Prologis from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $145.00 to $112.00 in a research report on Monday, April 22nd. Robert W. Baird decreased their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, UBS Group dropped 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. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $130.35.

Prologis Stock Performance

PLD stock traded down $0.67 during midday trading on Friday, hitting $104.97. The company’s stock had a trading volume of 1,079,652 shares, compared to its average volume of 3,539,567. The stock has a market cap of $97.19 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 2.43 and a beta of 1.05. 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 stock’s 50-day moving average price is $115.17 and its 200 day moving average price is $122.26. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a dividend of $0.96 per share. The ex-dividend date is Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.66%. Prologis’s dividend payout ratio (DPR) is presently 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.