IHT Wealth Management LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD – Get Rating) by 20.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,422 shares of the real estate investment trust’s stock after buying an additional 1,083 shares during the period. IHT Wealth Management LLC’s holdings in Prologis were worth $653,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Prologis by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 97,683,583 shares of the real estate investment trust’s stock worth $9,924,652,000 after buying an additional 432,945 shares during the period. BlackRock Inc. raised its stake in shares of Prologis by 1.0% during the 3rd quarter. BlackRock Inc. now owns 74,679,148 shares of the real estate investment trust’s stock worth $7,587,402,000 after buying an additional 710,141 shares during the period. FMR LLC raised its stake in shares of Prologis by 6.0% during the 2nd quarter. FMR LLC now owns 24,083,514 shares of the real estate investment trust’s stock worth $2,833,425,000 after buying an additional 1,361,120 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Prologis by 27.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 13,071,004 shares of the real estate investment trust’s stock worth $1,328,016,000 after buying an additional 2,823,799 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in shares of Prologis by 10.5% during the 3rd quarter. Nuveen Asset Management LLC now owns 10,522,211 shares of the real estate investment trust’s stock worth $1,069,056,000 after buying an additional 999,809 shares during the period. 75.84% of the stock is owned by institutional investors and hedge funds.
Prologis Stock Performance
NYSE PLD opened at $116.03 on Friday. The stock has a market cap of $107.15 billion, a PE ratio of 26.67, a P/E/G ratio of 3.06 and a beta of 0.99. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.41. Prologis, Inc. has a twelve month low of $98.03 and a twelve month high of $174.54. The stock has a fifty day simple moving average of $124.51 and a 200-day simple moving average of $116.61.
Prologis Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be paid a dividend of $0.87 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.79. The ex-dividend date is Thursday, March 16th. This represents a $3.48 annualized dividend and a yield of 3.00%. Prologis’s dividend payout ratio is presently 72.64%.
Analysts Set New Price Targets
Several research analysts recently commented on PLD shares. Morgan Stanley increased their price objective on Prologis from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, January 23rd. JPMorgan Chase & Co. downgraded Prologis from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $124.00 to $130.00 in a research note on Friday, December 16th. Truist Financial increased their price objective on Prologis from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. StockNews.com downgraded Prologis from a “hold” rating to a “sell” rating in a research note on Friday, March 10th. Finally, Wells Fargo & Company upped their target price on Prologis to $141.00 in a report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.00.
Prologis, Inc engages in providing logistics solutions and services. It operates through the Real Estate and Strategic Capital segments. The Real Estate segment includes rental operations and development. The Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities.
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