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

Stonebridge Financial Group LLC bought a new position in shares of Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 683 shares of the real estate investment trust’s stock, valued at approximately $72,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Prologis by 534.7% in the third 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 valued at $1,280,928,000 after acquiring an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after purchasing an additional 2,138,693 shares during the period. AMF Tjanstepension AB raised its position in Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares in the last quarter. Cardano Risk Management B.V. purchased a new position in shares of Prologis in the 3rd quarter valued at about $109,579,000. Finally, Jennison Associates LLC grew its position in shares of Prologis by 395.3% during the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after buying an additional 829,504 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.50% of the stock is currently owned by insiders.

Prologis Stock Up 1.1 %

Shares of NYSE:PLD opened at $121.07 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The stock has a market cap of $112.13 billion, a P/E ratio of 30.27, a P/E/G ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The firm has a fifty day moving average price of $111.39 and a 200 day moving average price of $118.15.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. UBS Group raised their target price on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Barclays boosted their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, Royal Bank of Canada upped their price objective on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. One 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 stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

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.