Berkshire Bank Has $606,000 Position in Prologis, Inc. (NYSE:PLD)

Berkshire Bank boosted its position in Prologis, Inc. (NYSE:PLDFree Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,657 shares of the real estate investment trust’s stock after buying an additional 153 shares during the quarter. Berkshire Bank’s holdings in Prologis were worth $606,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PLD. Valeo Financial Advisors LLC increased its position in shares of Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Prologis by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after buying an additional 1,034,211 shares during the last quarter. FMR LLC raised its position in Prologis by 1.2% during the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after acquiring an additional 197,693 shares in the last quarter. Northern Trust Corp lifted its stake in Prologis by 0.7% in the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after acquiring an additional 92,036 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Prologis by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after acquiring an additional 365,904 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research analyst reports. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Monday, May 13th. BMO Capital Markets lowered Prologis from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $145.00 to $112.00 in a research note on Monday, April 22nd. Royal Bank of Canada reduced their target price on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. 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 note on Thursday, April 18th. Finally, The Goldman Sachs Group cut their price target on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $130.35.

View Our Latest Stock Report on PLD

Prologis Trading Down 1.3 %

Shares of NYSE:PLD traded down $1.45 during trading on Tuesday, reaching $110.60. The stock had a trading volume of 2,524,903 shares, compared to its average volume of 3,560,783. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s fifty day moving average is $116.16 and its 200 day moving average is $122.47. The stock has a market cap of $102.40 billion, a price-to-earnings ratio of 32.34, a P/E/G ratio of 2.32 and a beta of 1.05.

Prologis Announces Dividend

The firm also recently announced 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 dividend yield of 3.47%. Prologis’s payout ratio is 112.28%.

About Prologis

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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