4,954 Shares in Prologis, Inc. (NYSE:PLD) Bought by US Asset Management LLC

US Asset Management LLC bought a new stake in Prologis, Inc. (NYSE:PLD) in the 4th quarter, Holdings Channel reports. The institutional investor bought 4,954 shares of the real estate investment trust’s stock, valued at approximately $660,000.

A number of other hedge funds have also recently made changes to their positions in PLD. Columbia Trust Co 01012016 increased its position in Prologis by 16.0% in the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after acquiring an additional 723 shares during the period. Cyndeo Wealth Partners LLC increased its holdings in Prologis by 39.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after purchasing an additional 11,882 shares during the period. DNB Asset Management AS raised its position in Prologis by 17.1% during the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after purchasing an additional 42,073 shares during the last quarter. Grassi Investment Management lifted its holdings in Prologis by 31.8% during the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after buying an additional 60,900 shares during the period. Finally, Desjardins Global Asset Management Inc. grew its position in shares of Prologis by 255.0% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock valued at $2,149,000 after buying an additional 11,582 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Down 0.7 %

Shares of NYSE:PLD traded down $0.78 during mid-day trading on Friday, hitting $107.37. 1,179,543 shares of the company traded hands, compared to its average volume of 3,539,801. The stock has a market cap of $99.41 billion, a P/E ratio of 31.40, a P/E/G ratio of 2.20 and a beta of 1.05. The stock has a 50-day moving average price of $120.00 and a two-hundred day moving average price of $121.69. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.58%. Prologis’s dividend payout ratio is currently 112.28%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PLD shares. UBS Group reduced their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. Evercore ISI cut their target price on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research report on Thursday, April 18th. JPMorgan Chase & Co. lowered their target price on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, TheStreet raised Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.