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

Victory Capital Management Inc. lifted its stake in Prologis, Inc. (NYSE:PLD) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 886,659 shares of the real estate investment trust’s stock after acquiring an additional 22,823 shares during the period. Victory Capital Management Inc. owned 0.10% of Prologis worth $118,192,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. bought a new position in Prologis in the 4th quarter worth approximately $28,000. FinTrust Capital Advisors LLC grew its holdings in shares of Prologis by 966.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 232 shares in the last quarter. Salem Investment Counselors Inc. acquired a new stake in shares of Prologis during the 4th quarter worth approximately $37,000. FNY Investment Advisers LLC acquired a new stake in Prologis in the 4th quarter valued at $39,000. Finally, Valley National Advisers Inc. boosted its stake in Prologis by 178.6% in the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 250 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLD. Royal Bank of Canada boosted their target price on Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. The Goldman Sachs Group reduced their price target on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Morgan Stanley upped their price objective on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. UBS Group lowered their target price on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, Mizuho restated a “neutral” rating and set a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.35.

Prologis Stock Up 2.6 %

PLD stock opened at $104.53 on Friday. The stock’s 50 day simple moving average is $122.66 and its 200 day simple moving average is $121.66. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. 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 has a market cap of $96.78 billion, a P/E ratio of 30.56, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued 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 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date was Friday, March 15th. Prologis’s payout ratio is currently 112.28%.

Prologis 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.