Stonegate Investment Group LLC Acquires 6,362 Shares of Prologis, Inc. (NYSE:PLD)

Stonegate Investment Group LLC boosted its stake in Prologis, Inc. (NYSE:PLD) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 570,343 shares of the real estate investment trust’s stock after buying an additional 6,362 shares during the quarter. Prologis makes up 1.6% of Stonegate Investment Group LLC’s investment portfolio, making the stock its 22nd largest holding. Stonegate Investment Group LLC owned 0.06% of Prologis worth $60,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Sunbelt Securities Inc. raised its position in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares during the period. Dunhill Financial LLC lifted its stake in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares in the last quarter. Hara Capital LLC bought a new stake in shares of Prologis during the 3rd quarter valued at about $48,000. Coastline Trust Co bought a new position in shares of Prologis in the 3rd quarter worth $52,000. Finally, Fortitude Family Office LLC lifted its stake in Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Trading Up 2.0 %

NYSE PLD opened at $121.29 on Tuesday. The firm has a 50 day moving average of $110.49 and a two-hundred day moving average of $118.41. The stock has a market capitalization of $112.33 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PLD shares. BTIG Research lowered their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Truist Financial increased their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday. Raymond James reaffirmed an “outperform” rating and set a $125.00 target price (down previously from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Mizuho decreased their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.