Mattern Capital Management LLC Buys 3,632 Shares of Prologis, Inc. (NYSE:PLD)

Mattern Capital Management LLC lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,923 shares of the real estate investment trust's stock after buying an additional 3,632 shares during the quarter. Mattern Capital Management LLC's holdings in Prologis were worth $7,919,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PLD. AMF Tjanstepension AB grew its position in shares of Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock worth $236,879,000 after buying an additional 1,365,811 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Prologis by 37.8% in the third quarter. Sequoia Financial Advisors LLC now owns 14,330 shares of the real estate investment trust's stock worth $1,810,000 after purchasing an additional 3,929 shares in the last quarter. Segment Wealth Management LLC lifted its stake in Prologis by 32.7% in the third quarter. Segment Wealth Management LLC now owns 5,757 shares of the real estate investment trust's stock valued at $727,000 after acquiring an additional 1,418 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in Prologis in the third quarter valued at approximately $357,000. Finally, Greenleaf Trust lifted its position in shares of Prologis by 2.5% in the third quarter. Greenleaf Trust now owns 20,464 shares of the real estate investment trust's stock valued at $2,584,000 after buying an additional 491 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Trading Up 1.3 %

Shares of NYSE:PLD traded up $1.59 during midday trading on Tuesday, reaching $122.32. The company's stock had a trading volume of 1,331,436 shares, compared to its average volume of 3,820,326. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The firm has a 50 day moving average price of $112.80 and a two-hundred day moving average price of $117.98. The firm has a market capitalization of $113.37 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.30%. Prologis's payout ratio is 101.00%.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company's stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PLD shares. BMO Capital Markets downgraded shares of Prologis from a "market perform" rating to an "underperform" rating and cut their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. BTIG Research decreased their price target on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. UBS Group lifted their price target on shares of Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Finally, Barclays increased their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $128.78.

Prologis Profile

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.