QRG Capital Management Inc. Has $10.64 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

QRG Capital Management Inc. increased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 16.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,697 shares of the real estate investment trust's stock after purchasing an additional 14,132 shares during the quarter. QRG Capital Management Inc.'s holdings in Prologis were worth $10,644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empirical Asset Management LLC boosted its position in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock valued at $7,249,000 after buying an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. increased its stake in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock valued at $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in Prologis in the third quarter worth $1,051,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Prologis during the third quarter worth $7,371,000. Finally, Red Cedar Investment Management LLC acquired a new position in shares of Prologis in the 3rd quarter valued at $1,230,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PLD shares. Royal Bank of Canada upped their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Monday, January 27th. Baird R W raised Prologis from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. BMO Capital Markets downgraded Prologis from a "market perform" rating to an "underperform" rating and decreased their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Scotiabank cut their target price on Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Monday, January 27th. Finally, Raymond James reaffirmed a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $128.78.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction 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 $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by insiders.

Prologis Stock Performance

NYSE:PLD traded up $1.11 during mid-day trading on Friday, hitting $123.88. The stock had a trading volume of 5,562,229 shares, compared to its average volume of 3,851,597. Prologis, Inc. has a twelve month low of $100.82 and a twelve month 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 stock has a market cap of $114.82 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. The company's 50 day simple moving average is $114.28 and its 200 day simple moving average is $118.01.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is an increase from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis's payout ratio is currently 101.00%.

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.