Sage Rhino Capital LLC Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Sage Rhino Capital LLC boosted its holdings in Prologis, Inc. (NYSE:PLD) by 7.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,026 shares of the real estate investment trust’s stock after acquiring an additional 134 shares during the quarter. Sage Rhino Capital LLC’s holdings in Prologis were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Focus Financial Network Inc. bought a new stake in shares of Prologis during the 3rd quarter valued at $299,000. Gladstone Institutional Advisory LLC increased its position in shares of Prologis by 3.7% during the third quarter. Gladstone Institutional Advisory LLC now owns 4,028 shares of the real estate investment trust’s stock valued at $509,000 after buying an additional 144 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Prologis by 35.3% in the third quarter. Farther Finance Advisors LLC now owns 8,846 shares of the real estate investment trust’s stock worth $1,117,000 after buying an additional 2,306 shares in the last quarter. Optas LLC purchased a new stake in shares of Prologis in the third quarter worth about $299,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of Prologis by 4.4% in the third quarter. Janney Montgomery Scott LLC now owns 442,932 shares of the real estate investment trust’s stock valued at $55,934,000 after acquiring an additional 18,465 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 0.4 %

Shares of PLD stock opened at $123.48 on Tuesday. The business has a 50-day moving average of $114.66 and a 200 day moving average of $118.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The stock has a market capitalization of $114.45 billion, a PE ratio of 30.87, a P/E/G ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.27%. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PLD. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Robert W. Baird increased their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. UBS Group raised their price target on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Mizuho cut their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus price target 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 shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by insiders.

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.