Lincoln National Corp Acquires 2,247 Shares of Prologis, Inc. (NYSE:PLD)

Lincoln National Corp increased its position in shares of Prologis, Inc. (NYSE:PLD) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,116 shares of the real estate investment trust’s stock after purchasing an additional 2,247 shares during the quarter. Lincoln National Corp’s holdings in Prologis were worth $6,280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. bought a new position in shares of Prologis in the 4th quarter worth $28,000. Salem Investment Counselors Inc. bought a new stake in Prologis during the 4th quarter valued at about $37,000. FNY Investment Advisers LLC purchased a new stake in shares of Prologis during the 4th quarter valued at about $39,000. Valley National Advisers Inc. boosted its holdings in shares of Prologis by 178.6% during the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 250 shares during the last quarter. Finally, Webster Bank N. A. boosted its holdings in shares of Prologis by 3,600.0% during the 4th quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 324 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

Prologis stock traded down $1.19 during mid-day trading on Monday, hitting $104.70. The company had a trading volume of 4,259,743 shares, compared to its average volume of 3,559,998. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company’s fifty day moving average is $121.55 and its 200-day moving average is $121.86. The company has a market capitalization of $96.94 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 2.20 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 given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is currently 112.28%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PLD shares. Morgan Stanley lifted their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Barclays dropped their price target on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Evercore ISI cut their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research report on Thursday, April 18th. Finally, BMO Capital Markets lowered Prologis from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Company 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.