Vert Asset Management LLC Boosts Position in Prologis, Inc. (NYSE:PLD)

Vert Asset Management LLC lifted its position in Prologis, Inc. (NYSE:PLD) by 12.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,621 shares of the real estate investment trust’s stock after acquiring an additional 19,750 shares during the quarter. Prologis accounts for 6.6% of Vert Asset Management LLC’s portfolio, making the stock its 5th largest position. Vert Asset Management LLC’s holdings in Prologis were worth $19,303,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. BankPlus Wealth Management LLC purchased a new stake in Prologis in the fourth quarter worth $268,000. Berkshire Bank grew its holdings in shares of Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 95 shares during the last quarter. Baldwin Wealth Partners LLC MA increased its stake in Prologis by 11.7% in the 4th quarter. Baldwin Wealth Partners LLC MA now owns 85,251 shares of the real estate investment trust’s stock worth $9,011,000 after buying an additional 8,903 shares during the period. West Wealth Group LLC lifted its holdings in Prologis by 1.7% during the 4th quarter. West Wealth Group LLC now owns 6,206 shares of the real estate investment trust’s stock valued at $656,000 after buying an additional 103 shares in the last quarter. Finally, James Hambro & Partners LLP purchased a new stake in Prologis in the 4th quarter valued at about $820,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of Prologis stock opened at $121.29 on Tuesday. The business’s fifty day simple moving average is $110.49 and its 200-day simple moving average is $118.41. 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 $112.33 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is presently 96.00%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PLD. 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 note on Monday. BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Truist Financial raised their price objective on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.