Stonegate Investment Group LLC Acquires 5,829 Shares of Prologis, Inc. (NYSE:PLD)

Stonegate Investment Group LLC increased its holdings in Prologis, Inc. (NYSE:PLD) by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 339,520 shares of the real estate investment trust’s stock after buying an additional 5,829 shares during the period. Prologis accounts for 1.4% of Stonegate Investment Group LLC’s investment portfolio, making the stock its 27th biggest position. Stonegate Investment Group LLC’s holdings in Prologis were worth $44,212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PLD. Strategic Blueprint LLC boosted its holdings in Prologis by 7.4% in the 3rd quarter. Strategic Blueprint LLC now owns 2,041 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 140 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in Prologis by 27.6% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 16,138 shares of the real estate investment trust’s stock worth $1,811,000 after purchasing an additional 3,490 shares in the last quarter. Modus Advisors LLC lifted its stake in Prologis by 3.7% in the 3rd quarter. Modus Advisors LLC now owns 3,075 shares of the real estate investment trust’s stock worth $345,000 after purchasing an additional 111 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Prologis by 0.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,640 shares of the real estate investment trust’s stock worth $2,092,000 after purchasing an additional 142 shares in the last quarter. Finally, PDS Planning Inc lifted its stake in Prologis by 3.7% in the 3rd quarter. PDS Planning Inc now owns 5,410 shares of the real estate investment trust’s stock worth $607,000 after purchasing an additional 191 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PLD has been the topic of several recent analyst reports. StockNews.com cut shares of Prologis from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Raymond James increased their target price on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. Morgan Stanley raised their price objective 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. Finally, Barclays reduced their target price on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.53.

Prologis Trading Down 2.8 %

Shares of PLD traded down $2.96 during trading hours on Tuesday, reaching $102.05. 5,583,314 shares of the company traded hands, compared to its average volume of 3,501,471. The company’s fifty day moving average price is $123.87 and its two-hundred day moving average price is $121.92. The company has a market capitalization of $94.48 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00. 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, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.76%. Prologis’s payout ratio is presently 112.28%.

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.