Victory Capital Management Inc. Purchases 22,823 Shares of Prologis, Inc. (NYSE:PLD)

Victory Capital Management Inc. raised its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 886,659 shares of the real estate investment trust's stock after buying an additional 22,823 shares during the quarter. Victory Capital Management Inc. owned about 0.10% of Prologis worth $118,192,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PLD. Thompson Investment Management Inc. acquired a new position in shares of Prologis in the 4th quarter valued at about $28,000. FinTrust Capital Advisors LLC boosted its stake in Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 232 shares during the period. Salem Investment Counselors Inc. bought a new position in shares of Prologis during the fourth quarter valued at approximately $37,000. FNY Investment Advisers LLC acquired a new stake in shares of Prologis during the 4th quarter worth approximately $39,000. Finally, Valley National Advisers Inc. lifted its holdings in shares of Prologis by 178.6% in the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an "overweight" rating in a research report on Wednesday, January 24th. Robert W. Baird decreased their price objective on Prologis from $137.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday. BMO Capital Markets downgraded Prologis from an "outperform" rating to a "market perform" rating and cut their target price for the company from $145.00 to $112.00 in a research note on Monday, April 22nd. Royal Bank of Canada increased their price target on Prologis from $128.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, February 16th. Finally, Argus cut their price objective on shares of Prologis from $139.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $132.35.

Prologis Stock Performance

Shares of NYSE:PLD traded up $1.32 on Friday, hitting $105.85. 3,517,606 shares of the company were exchanged, compared to its average volume of 3,552,360. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The company's 50 day moving average price is $122.66 and its two-hundred day moving average price is $121.66. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The firm has a market capitalization of $98.00 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 2.12 and a beta of 1.05.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.63%. This is an increase from Prologis's previous quarterly dividend of $0.87. Prologis's dividend payout ratio (DPR) is currently 112.28%.

About Prologis

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.