5,434 Shares in Prologis, Inc. (NYSE:PLD) Bought by GAMMA Investing LLC

GAMMA Investing LLC purchased a new stake in shares of Prologis, Inc. (NYSE:PLD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,434 shares of the real estate investment trust’s stock, valued at approximately $688,000.

Other large investors have also added to or reduced their stakes in the company. Thompson Investment Management Inc. purchased a new stake in Prologis during the fourth quarter valued at about $28,000. FinTrust Capital Advisors LLC raised its position in Prologis by 966.7% during the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in Prologis during the fourth quarter valued at about $37,000. FNY Investment Advisers LLC purchased a new stake in Prologis during the fourth quarter valued at about $39,000. Finally, Webster Bank N. A. raised its position in Prologis by 3,600.0% during the fourth quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 324 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Mizuho reaffirmed a “neutral” rating and set a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. Raymond James raised their target price on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. Argus cut their target price on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group cut their target price on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday. Finally, UBS Group dropped their price target on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $135.41.

Prologis Price Performance

PLD stock traded up $0.78 during trading on Tuesday, reaching $104.86. The company’s stock had a trading volume of 4,231,958 shares, compared to its average volume of 3,454,940. The company has a market capitalization of $97.00 billion, a P/E ratio of 30.55, a price-to-earnings-growth ratio of 2.08 and a beta of 1.00. The company’s fifty day moving average is $127.31 and its 200-day moving average is $122.19. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.66%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.