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

Stonegate Investment Group LLC increased its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.0% in the 1st quarter, HoldingsChannel reports. The firm owned 575,829 shares of the real estate investment trust’s stock after purchasing an additional 5,486 shares during the period. Prologis makes up 1.7% of Stonegate Investment Group LLC’s investment portfolio, making the stock its 22nd biggest position. Stonegate Investment Group LLC’s holdings in Prologis were worth $64,372,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cohen & Steers Inc. grew its position in shares of Prologis by 3.2% during the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock worth $2,994,557,000 after buying an additional 882,529 shares in the last quarter. Geode Capital Management LLC lifted its stake in Prologis by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock worth $2,252,853,000 after acquiring an additional 610,251 shares during the last quarter. FMR LLC grew its holdings in Prologis by 11.7% during the 4th quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust’s stock worth $1,889,747,000 after acquiring an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Prologis by 2.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock worth $1,754,282,000 after acquiring an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PLD. Morgan Stanley decreased their price objective on shares of Prologis to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Royal Bank Of Canada cut their price target on Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. Robert W. Baird lowered their price objective on Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. CJS Securities dropped their price objective on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Finally, Wells Fargo & Company decreased their target price on Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.42.

Prologis Price Performance

PLD stock opened at $105.67 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $98.05 billion, a P/E ratio of 26.42, a PEG ratio of 2.67 and a beta of 1.25. The business has a 50 day simple moving average of $105.62 and a 200-day simple moving average of $109.77. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Prologis had a net margin of 44.59% and a return on equity of 6.45%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. As a group, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.82%. Prologis’s dividend payout ratio (DPR) is 101.00%.

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.