Stonebridge Financial Group LLC Takes Position in Prologis, Inc. (NYSE:PLD)

Stonebridge Financial Group LLC purchased a new stake in Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 683 shares of the real estate investment trust’s stock, valued at approximately $72,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after purchasing an additional 767,609 shares during the period. Geode Capital Management LLC boosted its holdings in Prologis by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after buying an additional 194,472 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Prologis by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after buying an additional 441,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Finally, Swedbank AB raised its holdings in shares of Prologis by 1.8% during the fourth quarter. Swedbank AB now owns 4,602,779 shares of the real estate investment trust’s stock valued at $486,514,000 after acquiring an additional 80,575 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’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 transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Stock Performance

NYSE PLD opened at $121.07 on Friday. The stock has a fifty day simple moving average of $111.39 and a 200-day simple moving average of $118.15. 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 has a market cap of $112.13 billion, a PE ratio of 30.27, a P/E/G ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76.

Prologis Announces Dividend

The business also recently announced 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. This represents a $3.84 annualized dividend and a yield of 3.17%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of research analyst reports. Truist Financial lifted their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. JPMorgan Chase & Co. reduced their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Barclays boosted their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, Wolfe Research cut their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average 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.