Spire Wealth Management Has $811,000 Stock Position in Prologis, Inc. (NYSE:PLD)

Spire Wealth Management cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,312 shares of the real estate investment trust’s stock after selling 155 shares during the period. Spire Wealth Management’s holdings in Prologis were worth $811,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Thompson Investment Management Inc. bought a new position in shares of Prologis during the fourth quarter worth approximately $28,000. Salem Investment Counselors Inc. bought a new position in shares of Prologis during the fourth quarter worth approximately $37,000. FNY Investment Advisers LLC bought a new position in shares of Prologis during the fourth quarter worth approximately $39,000. Valley National Advisers Inc. increased 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 period. Finally, Webster Bank N. A. increased its holdings in shares of Prologis by 3,600.0% during the fourth quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 324 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Down 1.7 %

Shares of NYSE PLD opened at $105.89 on Thursday. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The stock has a market cap of $98.04 billion, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. The firm has a 50-day moving average of $121.06 and a 200 day moving average of $121.90. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. The ex-dividend date was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.63%. Prologis’s payout ratio is currently 112.28%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. StockNews.com cut shares of Prologis from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Royal Bank of Canada decreased their price objective on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research note on Monday. Morgan Stanley raised their target price 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. 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, UBS Group cut their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $131.12.

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.