Prologis, Inc. (NYSE:PLD) Shares Purchased by Assetmark Inc.

Assetmark Inc. increased its position in shares of Prologis, Inc. (NYSE:PLD) by 11.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,553 shares of the real estate investment trust’s stock after purchasing an additional 5,487 shares during the quarter. Assetmark Inc.’s holdings in Prologis were worth $7,272,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLD. Main Street Financial Solutions LLC raised its holdings in Prologis by 16.5% during the third quarter. Main Street Financial Solutions LLC now owns 2,277 shares of the real estate investment trust’s stock worth $255,000 after purchasing an additional 322 shares during the last quarter. Corient Private Wealth LLC raised its holdings in Prologis by 9.6% during the third quarter. Corient Private Wealth LLC now owns 695,251 shares of the real estate investment trust’s stock worth $78,033,000 after purchasing an additional 60,854 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Prologis by 4.7% during the third quarter. EverSource Wealth Advisors LLC now owns 2,450 shares of the real estate investment trust’s stock worth $275,000 after purchasing an additional 111 shares during the last quarter. LSV Asset Management acquired a new position in shares of Prologis in the third quarter worth $258,000. Finally, Syon Capital LLC purchased a new stake in shares of Prologis in the third quarter valued at $804,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLD has been the topic of several recent research reports. The Goldman Sachs Group reduced their price objective on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $145.00 to $112.00 in a research report on Monday, April 22nd. Argus reduced their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Royal Bank of Canada reduced their price objective on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Finally, Raymond James upped their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.35.

Prologis Stock Performance

Shares of NYSE:PLD opened at $109.73 on Thursday. The firm has a market capitalization of $101.59 billion, a PE ratio of 31.94, a P/E/G ratio of 2.46 and a beta of 1.05. 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 business has a 50-day moving average of $115.68 and a two-hundred day moving average of $122.38. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a dividend of $0.96 per share. The ex-dividend date is Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.50%. 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 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.