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

Stonegate Investment Group LLC lifted its stake in Prologis, Inc. (NYSE:PLD) by 1.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 339,520 shares of the real estate investment trust’s stock after buying an additional 5,829 shares during the quarter. Prologis accounts for approximately 1.4% of Stonegate Investment Group LLC’s holdings, making the stock its 27th largest position. Stonegate Investment Group LLC’s holdings in Prologis were worth $44,212,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC purchased a new position in shares of Prologis in the fourth quarter worth $27,000. Optimum Investment Advisors purchased a new position in shares of Prologis in the first quarter worth $26,000. Thompson Investment Management Inc. purchased a new position in shares of Prologis in the fourth quarter worth $28,000. JFS Wealth Advisors LLC lifted its holdings in shares of Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 168 shares in the last quarter. Finally, Clear Investment Research LLC lifted its holdings in shares of Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 2.8 %

Prologis stock traded down $2.96 during mid-day trading on Tuesday, hitting $102.05. The company’s stock had a trading volume of 5,583,314 shares, compared to its average volume of 3,501,471. 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 company has a 50 day moving average of $123.87 and a 200-day moving average of $121.92. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock has a market cap of $94.48 billion, a PE ratio of 29.84, a P/E/G ratio of 2.17 and a beta of 1.00.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a $0.96 dividend. 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 yield of 3.76%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PLD. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Royal Bank of Canada upped their price target on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. The Goldman Sachs Group decreased their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. StockNews.com downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Finally, UBS Group decreased their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus target price of $133.53.

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.