Stonegate Investment Group LLC Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Stonegate Investment Group LLC increased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 accounts for 1.6% of Stonegate Investment Group LLC's portfolio, making the stock its 22nd largest position. Stonegate Investment Group LLC owned about 0.06% of Prologis worth $60,285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empirical Asset Management LLC increased its stake 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 worth $7,249,000 after purchasing an additional 52,963 shares during the period. Sunflower Bank N.A. bought a new position in shares of Prologis during the third quarter valued at about $249,000. Cardano Risk Management B.V. boosted its holdings in shares of Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock worth $94,391,000 after purchasing an additional 25,266 shares during the period. Coronation Fund Managers Ltd. bought a new stake in shares of Prologis in the second quarter worth about $878,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in Prologis by 2.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust's stock valued at $149,116,000 after purchasing an additional 29,400 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Stock Down 0.8 %

Prologis stock traded down $1.02 during mid-day trading on Tuesday, hitting $120.23. The company had a trading volume of 3,494,605 shares, compared to its average volume of 4,804,889. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock's 50 day moving average price is $110.63 and its two-hundred day moving average price is $118.41. The company has a market capitalization of $111.35 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. Prologis's dividend payout ratio is currently 96.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a report on Monday, October 21st. BTIG Research dropped their price target on Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Wolfe Research reduced their price objective on shares of Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Truist Financial raised their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Raymond James reiterated an "outperform" rating and set a $125.00 price target (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Prologis has a consensus rating of "Moderate Buy" and a consensus target price of $128.72.

Prologis Company 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.