Cyndeo Wealth Partners LLC Raises Holdings in Prologis, Inc. (NYSE:PLD)

Cyndeo Wealth Partners LLC raised its position in Prologis, Inc. (NYSE:PLD - Free Report) by 39.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,005 shares of the real estate investment trust's stock after purchasing an additional 11,882 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Prologis were worth $5,599,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PLD. DNB Asset Management AS increased its holdings in Prologis by 17.1% in the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust's stock valued at $38,324,000 after purchasing an additional 42,073 shares during the last quarter. Grassi Investment Management lifted its stake in Prologis by 31.8% during the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust's stock worth $33,611,000 after acquiring an additional 60,900 shares in the last quarter. Selway Asset Management purchased a new position in Prologis during the 3rd quarter valued at about $177,000. LDR Capital Management LLC acquired a new position in Prologis in the 3rd quarter valued at about $969,000. Finally, Sarasin & Partners LLP increased its stake in Prologis by 18.3% during the fourth quarter. Sarasin & Partners LLP now owns 1,510,873 shares of the real estate investment trust's stock worth $201,399,000 after purchasing an additional 233,881 shares during the period. Hedge funds and other institutional investors own 90.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PLD. StockNews.com upgraded Prologis from a "sell" rating to a "hold" rating in a report on Thursday, December 14th. TheStreet upgraded shares of Prologis from a "c+" rating to a "b-" rating in a research note on Friday, January 26th. Morgan Stanley raised their price target on Prologis from $128.00 to $141.00 and gave the company an "overweight" rating in a research note on Wednesday, January 24th. Scotiabank increased their price objective on Prologis from $134.00 to $143.00 and gave the company a "sector outperform" rating in a report on Friday, December 15th. Finally, Truist Financial restated a "buy" rating and set a $120.00 target price on shares of Prologis in a research note on Monday, November 27th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $142.47.

Prologis Stock Performance

Shares of NYSE:PLD traded down $1.27 on Friday, reaching $128.62. 2,721,607 shares of the company's stock were exchanged, compared to its average volume of 3,129,280. The business's 50-day moving average is $130.77 and its two-hundred day moving average is $121.57. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The firm has a market capitalization of $118.98 billion, a price-to-earnings ratio of 39.12, a PEG ratio of 2.57 and a beta of 1.00.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 EPS. As a group, equities research analysts forecast that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 18th will be paid a dividend of $0.96 per share. This is a boost from Prologis's previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 2.99%. Prologis's dividend payout ratio (DPR) is presently 116.72%.

Prologis Company 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.