Nemes Rush Group LLC Has $492,000 Stock Holdings in Prologis, Inc. (NYSE:PLD)

Nemes Rush Group LLC decreased its stake in Prologis, Inc. (NYSE:PLD) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,694 shares of the real estate investment trust’s stock after selling 472 shares during the quarter. Nemes Rush Group LLC’s holdings in Prologis were worth $492,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its position in Prologis by 6.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after buying an additional 1,034,211 shares in the last quarter. FMR LLC lifted its position in Prologis by 1.2% in the 3rd quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock worth $1,820,577,000 after buying an additional 197,693 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Prologis by 0.7% during the 3rd quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after purchasing an additional 92,036 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Prologis by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock valued at $1,642,997,000 after purchasing an additional 123,902 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Prologis by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock valued at $1,268,992,000 after purchasing an additional 175,276 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PLD shares. Raymond James raised their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. Morgan Stanley raised their price target on shares of Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Scotiabank reduced their price objective on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a report on Thursday, May 16th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Finally, Evercore ISI cut their price target on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.35.

Prologis Stock Up 0.1 %

Shares of Prologis stock traded up $0.08 on Wednesday, hitting $110.68. The company had a trading volume of 1,105,990 shares, compared to its average volume of 3,535,160. The firm has a market capitalization of $102.47 billion, a P/E ratio of 32.34, a P/E/G ratio of 2.33 and a beta of 1.05. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a 50-day moving average of $116.16 and a 200-day moving average of $122.47.

Prologis Announces Dividend

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 $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, June 17th. Prologis’s dividend payout ratio 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.