Brookstone Capital Management Takes $222,000 Position in Prologis, Inc. (NYSE:PLD) (2024)

Posted by Defense World Staff on Jul 3rd, 2024

Brookstone Capital Management acquired a new stake in shares of Prologis, Inc. (NYSE:PLD – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,708 shares of the real estate investment trust’s stock, valued at approximately $222,000.

Several other institutional investors have also bought and sold shares of the stock. True Wealth Design LLC purchased a new stake in Prologis in the 4th quarter valued at $27,000. Optimum Investment Advisors purchased a new stake in Prologis in the 1st quarter valued at $26,000. Thompson Investment Management Inc. purchased a new stake in Prologis in the 4th quarter valued at $28,000. JFS Wealth Advisors LLC raised its position in Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 168 shares during the last quarter. Finally, Clear Investment Research LLC raised its position in Prologis by 188.1% in the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 158 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Argus reduced their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. 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. Scotiabank reduced their price objective on Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. Finally, 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. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

Read Our Latest Report on PLD

Prologis Stock Performance

NYSE:PLD opened at $113.21 on Wednesday. The business’s 50-day moving average price is $108.29 and its two-hundred day moving average price is $121.60. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a market cap of $104.81 billion, a P/E ratio of 33.08, a PEG ratio of 2.50 and a beta of 1.06. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.39%. Prologis’s payout ratio is currently 112.28%.