Avidian Wealth Solutions LLC Grows Holdings in Prologis, Inc. (NYSE:PLD)

Avidian Wealth Solutions LLC increased its holdings in Prologis, Inc. (NYSE:PLD) by 3.1% in the 1st quarter, Holdings Channel reports. The fund owned 7,155 shares of the real estate investment trust’s stock after buying an additional 217 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Prologis were worth $932,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. True Wealth Design LLC bought a new position in shares of Prologis during the fourth quarter valued at approximately $27,000. Optimum Investment Advisors purchased a new position in Prologis during the first quarter valued at $26,000. Thompson Investment Management Inc. bought a new stake in Prologis in the fourth quarter worth $28,000. JFS Wealth Advisors LLC grew its stake in shares of Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 168 shares during the last quarter. Finally, Clear Investment Research LLC increased its holdings in shares of Prologis by 188.1% during the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 158 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

NYSE PLD traded up $2.09 during trading hours on Wednesday, hitting $116.54. 2,997,498 shares of the company’s stock traded hands, compared to its average volume of 3,689,566. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The firm has a market capitalization of $107.90 billion, a P/E ratio of 33.80, a P/E/G ratio of 2.55 and a beta of 1.06. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average price is $109.50 and its two-hundred day moving average price is $120.81.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Monday, June 17th. Prologis’s payout ratio is 112.28%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Robert W. Baird reduced their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Royal Bank of Canada lowered their price objective on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. StockNews.com lowered Prologis from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Finally, Barclays lowered their price target on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average price target of $129.76.

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.