Paradigm Financial Partners LLC Decreases Stake in Prologis, Inc. (NYSE:PLD)

Paradigm Financial Partners LLC lowered its stake in Prologis, Inc. (NYSE:PLD) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,195 shares of the real estate investment trust’s stock after selling 168 shares during the period. Paradigm Financial Partners LLC’s holdings in Prologis were worth $1,892,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thompson Investment Management Inc. purchased a new position in shares of Prologis during the fourth quarter worth $28,000. FinTrust Capital Advisors LLC raised its holdings in shares of Prologis by 966.7% during the third 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 during the last quarter. Salem Investment Counselors Inc. purchased a new position in shares of Prologis during the fourth quarter worth $37,000. FNY Investment Advisers LLC purchased a new position in shares of Prologis during the fourth quarter worth $39,000. Finally, Valley National Advisers Inc. raised its holdings in shares of Prologis by 178.6% during the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.7 %

Shares of PLD stock traded up $0.71 on Friday, hitting $104.06. The stock had a trading volume of 4,037,744 shares, compared to its average volume of 4,340,292. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. The firm has a market capitalization of $96.26 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 2.17 and a beta of 1.00. The stock’s 50 day moving average is $125.06 and its 200-day moving average is $121.94.

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 paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.69%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is 112.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Raymond James lifted their price objective on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Robert W. Baird boosted their price target on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Royal Bank of Canada boosted their target price on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Morgan Stanley boosted their target price on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $134.24.

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.