Focus Partners Advisor Solutions LLC grew its position in Prologis, Inc. (NYSE:PLD – Free Report) by 128.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,589 shares of the real estate investment trust’s stock after purchasing an additional 5,955 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Prologis were worth $1,307,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Clayton Financial Group LLC bought a new stake in shares of Prologis in the 3rd quarter valued at approximately $26,000. Silver Oak Securities Incorporated acquired a new stake in shares of Prologis in the 3rd quarter valued at $36,000. Rossby Financial LCC boosted its position in Prologis by 69.6% in the third quarter. Rossby Financial LCC now owns 329 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 135 shares in the last quarter. AlphaQuest LLC bought a new stake in Prologis during the third quarter worth about $39,000. Finally, Clear Investment Research LLC increased its holdings in shares of Prologis by 34.5% during the third quarter. Clear Investment Research LLC now owns 343 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 88 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.
Prologis Trading Down 1.2%
Prologis stock opened at $137.73 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $128.03 billion, a P/E ratio of 38.80, a PEG ratio of 3.45 and a beta of 1.41. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $143.95. The stock has a 50-day simple moving average of $133.84 and a 200 day simple moving average of $125.15.
Prologis Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, March 17th. This is a positive change from Prologis’s previous quarterly dividend of $1.01. Prologis’s dividend payout ratio is currently 113.80%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on PLD shares. Morgan Stanley set a $135.00 price target on Prologis in a report on Friday, January 16th. Wall Street Zen downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Evercore increased their price objective on shares of Prologis from $118.00 to $121.00 and gave the stock an “in-line” rating in a report on Thursday, January 22nd. Argus boosted their target price on shares of Prologis from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, BNP Paribas Exane upped their price target on Prologis from $129.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $137.20.
Check Out Our Latest Research Report on Prologis
Prologis Profile
Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.
With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.
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