W.H. Cornerstone Investments Inc. Invests $296,000 in Prologis, Inc. (NYSE:PLD)

W.H. Cornerstone Investments Inc. acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 2,220 shares of the real estate investment trust’s stock, valued at approximately $296,000.

Other institutional investors have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC increased its holdings in shares of Prologis by 966.7% in 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 period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Prologis by 10.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 214,352 shares of the real estate investment trust’s stock valued at $24,052,000 after acquiring an additional 20,536 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Prologis by 7.6% in the third quarter. Stratos Wealth Partners LTD. now owns 9,836 shares of the real estate investment trust’s stock worth $1,104,000 after purchasing an additional 697 shares during the last quarter. Telemus Capital LLC purchased a new stake in Prologis in the third quarter valued at approximately $820,000. Finally, Veracity Capital LLC lifted its position in Prologis by 3.9% during the third quarter. Veracity Capital LLC now owns 2,978 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 1.3 %

Shares of PLD stock traded up $1.36 during trading hours on Friday, reaching $105.89. The company’s stock had a trading volume of 3,517,673 shares, compared to its average volume of 4,890,799. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $98.04 billion, a P/E ratio of 30.96, a P/E/G ratio of 2.20 and a beta of 1.05. The firm’s fifty day simple moving average is $122.11 and its 200 day simple moving average is $121.84. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52.

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 given a dividend of $0.96 per share. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Friday, March 15th. Prologis’s payout ratio is presently 112.28%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Raymond James raised 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. StockNews.com cut Prologis from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. The Goldman Sachs Group reduced their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets lowered shares of Prologis from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. Finally, TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.35.

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.