Kovitz Investment Group Partners LLC Has $2.27 Million Position in Prologis, Inc. (NYSE:PLD)

Kovitz Investment Group Partners LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 6.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 16,996 shares of the real estate investment trust’s stock after selling 1,098 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Prologis were worth $2,266,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Thompson Investment Management Inc. acquired a new position in shares of Prologis during the fourth quarter valued at $28,000. Salem Investment Counselors Inc. acquired a new position in Prologis during the 4th quarter valued at about $37,000. FNY Investment Advisers LLC bought a new position in shares of Prologis in the 4th quarter valued at about $39,000. Bogart Wealth LLC grew its position in shares of Prologis by 170.9% during the 4th quarter. Bogart Wealth LLC now owns 317 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 200 shares during the period. Finally, Valley National Advisers Inc. raised its stake 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 buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their target price on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Mizuho restated a “neutral” rating and set a $130.00 price objective on shares of Prologis in a report on Tuesday, April 2nd. 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 report on Thursday, April 18th. Raymond James upped their price objective 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. Finally, UBS Group dropped their price target on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.12.

Prologis Stock Down 0.6 %

NYSE:PLD traded down $0.66 on Friday, hitting $107.49. 2,872,799 shares of the company’s stock were exchanged, compared to its average volume of 4,854,984. The company has a market cap of $99.52 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 2.25 and a beta of 1.05. The firm has a 50-day moving average price of $120.00 and a 200-day moving average price of $121.69. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.57%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.