Van ECK Associates Corp Buys 46,779 Shares of Prologis, Inc. (NYSE:PLD)

Van ECK Associates Corp boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 13.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,022 shares of the real estate investment trust’s stock after buying an additional 46,779 shares during the quarter. Van ECK Associates Corp’s holdings in Prologis were worth $53,189,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. RMR Wealth Builders increased its holdings in Prologis by 72.8% during the 3rd quarter. RMR Wealth Builders now owns 2,887 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 1,216 shares during the period. Sweet Financial Partners LLC raised its holdings in shares of Prologis by 16.8% in the third quarter. Sweet Financial Partners LLC now owns 3,655 shares of the real estate investment trust’s stock valued at $410,000 after acquiring an additional 525 shares in the last quarter. Accurate Wealth Management LLC lifted its stake in Prologis by 20.2% in the third quarter. Accurate Wealth Management LLC now owns 2,955 shares of the real estate investment trust’s stock worth $320,000 after acquiring an additional 497 shares during the period. Colton Groome Financial Advisors LLC increased its position in Prologis by 11.5% during the 3rd quarter. Colton Groome Financial Advisors LLC now owns 8,855 shares of the real estate investment trust’s stock valued at $994,000 after purchasing an additional 915 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Prologis by 5.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 78,909 shares of the real estate investment trust’s stock valued at $8,854,000 after purchasing an additional 3,852 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PLD. JPMorgan Chase & Co. reduced their price objective on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Evercore ISI reduced their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research report on Thursday, April 18th. UBS Group reduced their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Mizuho restated a “neutral” rating and issued a $130.00 price target on shares of Prologis in a report on Tuesday, April 2nd. Finally, Morgan Stanley boosted their price objective on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. One investment 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 stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.53.

Prologis Stock Performance

Shares of NYSE PLD traded down $1.92 during trading on Tuesday, reaching $103.09. 1,099,247 shares of the company traded hands, compared to its average volume of 3,446,240. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The stock has a market cap of $95.44 billion, a P/E ratio of 30.71, a PEG ratio of 2.17 and a beta of 1.00. The firm’s fifty day simple moving average is $124.49 and its 200 day simple moving average is $121.98.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a dividend of $0.96 per share. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.72%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

About Prologis

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.