Teamwork Financial Advisors LLC Makes New $1.14 Million Investment in Prologis, Inc. (NYSE:PLD)

Teamwork Financial Advisors LLC bought a new position in shares of Prologis, Inc. (NYSE:PLD) during the fourth quarter, HoldingsChannel.com reports. The firm bought 10,783 shares of the real estate investment trust’s stock, valued at approximately $1,140,000.

Several other institutional investors and hedge funds have also made changes to their positions in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after buying an additional 8,545,336 shares during the period. Janus Henderson Group PLC increased its stake in shares of Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after acquiring an additional 2,138,693 shares during the last quarter. AMF Tjanstepension AB lifted its holdings in shares of Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after acquiring an additional 1,365,811 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Prologis by 547.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,034,000 shares of the real estate investment trust’s stock worth $116,129,000 after acquiring an additional 874,411 shares during the period. Finally, Cardano Risk Management B.V. purchased a new stake in Prologis in the third quarter valued at approximately $109,579,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PLD shares. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $120.00 to $104.00 in a report on Friday, December 6th. Wolfe Research reduced their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Mizuho lowered their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Raymond James reaffirmed an “outperform” rating and set a $125.00 target price (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Finally, Truist Financial lowered their price objective on Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.67.

Prologis Price Performance

NYSE:PLD opened at $115.16 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market cap of $106.66 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 3.25 and a beta of 1.09. The company’s 50-day moving average price is $110.31 and its two-hundred day moving average price is $118.33. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is 96.00%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.