Prologis, Inc. (NYSE:PLD) Shares Bought by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC boosted its holdings in Prologis, Inc. (NYSE:PLD) by 1.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,187 shares of the real estate investment trust’s stock after acquiring an additional 160 shares during the period. Agate Pass Investment Management LLC’s holdings in Prologis were worth $1,978,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in Prologis by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after purchasing an additional 365,904 shares in the last quarter. Principal Financial Group Inc. boosted its position in Prologis by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock worth $1,642,997,000 after acquiring an additional 123,902 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Prologis by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock worth $1,268,992,000 after acquiring an additional 175,276 shares during the period. Ameriprise Financial Inc. raised its holdings in Prologis by 0.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,981,242 shares of the real estate investment trust’s stock valued at $1,008,898,000 after acquiring an additional 76,605 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Prologis during the fourth quarter worth $1,074,648,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLD has been the topic of a number of research analyst reports. Evercore ISI reduced their target price on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a report on Thursday, April 18th. StockNews.com downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Scotiabank reduced their price target on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 16th. UBS Group dropped their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Argus reduced their target price on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $129.76.

Prologis Stock Performance

PLD stock traded up $0.09 during mid-day trading on Thursday, reaching $110.50. The company had a trading volume of 992,488 shares, compared to its average volume of 3,734,895. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock has a market capitalization of $102.31 billion, a P/E ratio of 32.47, a P/E/G ratio of 2.45 and a beta of 1.07. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $107.83 and its two-hundred day simple moving average is $121.97.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a dividend of $0.96 per share. The ex-dividend date is Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.48%. Prologis’s dividend payout ratio is presently 112.28%.

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.