Perigon Wealth Management LLC Has $841,000 Position in Prologis, Inc. (NYSE:PLD)

Perigon Wealth Management LLC lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,310 shares of the real estate investment trust’s stock after selling 1,381 shares during the period. Perigon Wealth Management LLC’s holdings in Prologis were worth $841,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PLD. Valeo Financial Advisors LLC lifted its holdings in shares of Prologis by 30.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 26,831 shares of the real estate investment trust’s stock valued at $3,577,000 after acquiring an additional 6,234 shares during the period. Sapient Capital LLC bought a new position in shares of Prologis during the fourth quarter valued at $1,025,000. Signature Estate & Investment Advisors LLC lifted its holdings in shares of Prologis by 10.9% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 113,295 shares of the real estate investment trust’s stock valued at $15,102,000 after acquiring an additional 11,108 shares during the period. Cerity Partners LLC lifted its holdings in shares of Prologis by 217.9% during the fourth quarter. Cerity Partners LLC now owns 114,808 shares of the real estate investment trust’s stock valued at $15,304,000 after acquiring an additional 78,697 shares during the period. Finally, Sandy Spring Bank lifted its holdings in shares of Prologis by 7.4% during the fourth quarter. Sandy Spring Bank now owns 16,080 shares of the real estate investment trust’s stock valued at $2,143,000 after acquiring an additional 1,102 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of analyst reports. Raymond James lifted their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Morgan Stanley lifted their price target on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Barclays cut their price target on Prologis from $153.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Robert W. Baird lifted their price target on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a report on Tuesday, January 23rd. Finally, TheStreet raised Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. 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 stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $141.67.

Prologis Price Performance

Shares of PLD stock opened at $119.00 on Monday. The firm has a market cap of $110.08 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 2.38 and a beta of 1.00. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The stock has a 50-day moving average price of $129.98 and a 200 day moving average price of $122.26. 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 (NYSE:PLD) last posted its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 5.29% and a net margin of 38.13%. Prologis’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 earnings per share. Research analysts expect that Prologis, Inc. will post 5.5 EPS for the current year.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Friday, March 15th. Prologis’s payout ratio 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.