Atria Wealth Solutions Inc. Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Atria Wealth Solutions Inc. raised its stake in shares of Prologis, Inc. (NYSE:PLD) by 33.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,486 shares of the real estate investment trust’s stock after acquiring an additional 4,345 shares during the period. Atria Wealth Solutions Inc.’s holdings in Prologis were worth $2,331,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Prologis during the 3rd quarter valued at about $185,164,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Prologis by 6.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after purchasing an additional 1,034,211 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Prologis by 43.0% in the third quarter. Envestnet Asset Management Inc. now owns 2,402,293 shares of the real estate investment trust’s stock valued at $269,561,000 after purchasing an additional 721,910 shares during the period. Barclays PLC grew its holdings in shares of Prologis by 23.0% in the third quarter. Barclays PLC now owns 2,809,487 shares of the real estate investment trust’s stock valued at $315,253,000 after purchasing an additional 525,171 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in Prologis by 89.8% during the 3rd quarter. Schroder Investment Management Group now owns 1,004,732 shares of the real estate investment trust’s stock worth $112,741,000 after buying an additional 475,229 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on PLD. Raymond James raised their price target on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. StockNews.com cut Prologis from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Evercore ISI cut their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a report on Thursday, April 18th. BMO Capital Markets cut shares of Prologis from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $145.00 to $112.00 in a report on Monday, April 22nd. Finally, Barclays lowered their price target on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday. One research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.53.

Prologis Stock Up 0.9 %

Shares of NYSE PLD opened at $105.03 on Tuesday. The business has a 50-day moving average price of $124.49 and a 200 day moving average price of $121.98. The stock has a market cap of $97.24 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

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 issued a $0.96 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio 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.