Mainsail Financial Group LLC Has $810,000 Stock Position in Prologis, Inc. (NYSE:PLD)

Mainsail Financial Group LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,223 shares of the real estate investment trust’s stock after purchasing an additional 106 shares during the quarter. Mainsail Financial Group LLC’s holdings in Prologis were worth $810,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. True Wealth Design LLC bought a new position in shares of Prologis during the fourth quarter worth about $27,000. Optimum Investment Advisors bought a new position in shares of Prologis during the first quarter worth about $26,000. Thompson Investment Management Inc. bought a new position in shares of Prologis during the fourth quarter worth about $28,000. JFS Wealth Advisors LLC raised its position in shares of Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 168 shares during the last quarter. Finally, Clear Investment Research LLC raised its position in shares of Prologis by 188.1% during the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 158 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Performance

NYSE:PLD opened at $113.23 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The firm has a market cap of $104.83 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 2.52 and a beta of 1.06. The business’s fifty day moving average is $108.46 and its 200 day moving average is $121.45.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.39%. Prologis’s payout ratio is 112.28%.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research analyst reports. Argus lowered their target price on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Mizuho reduced their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Royal Bank of Canada reduced their price objective on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. StockNews.com cut Prologis from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Finally, Scotiabank cut their target price on Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 16th. One equities 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 an average target price of $129.76.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.