GAMMA Investing LLC Makes New $688,000 Investment in Prologis, Inc. (NYSE:PLD)

GAMMA Investing LLC acquired a new position in shares of Prologis, Inc. (NYSE:PLD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,434 shares of the real estate investment trust’s stock, valued at approximately $688,000.

Several other hedge funds also recently made changes to their positions in the company. RWA Wealth Partners LLC lifted its stake in shares of Prologis by 6,946.1% in the 4th quarter. RWA Wealth Partners LLC now owns 153,676 shares of the real estate investment trust’s stock worth $20,485,000 after acquiring an additional 151,495 shares during the period. Greenwich Wealth Management LLC acquired a new stake in shares of Prologis in the 4th quarter worth $212,000. Klingenstein Fields & Co. LP lifted its stake in shares of Prologis by 1.1% in the 4th quarter. Klingenstein Fields & Co. LP now owns 189,702 shares of the real estate investment trust’s stock worth $25,287,000 after acquiring an additional 2,062 shares during the period. Cetera Trust Company N.A acquired a new stake in shares of Prologis in the 4th quarter worth $383,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of Prologis by 1.3% in the 4th quarter. Handelsbanken Fonder AB now owns 359,324 shares of the real estate investment trust’s stock worth $47,898,000 after acquiring an additional 4,438 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 0.7 %

Prologis stock traded up $0.78 during trading on Tuesday, reaching $104.86. The company had a trading volume of 4,231,958 shares, compared to its average volume of 3,454,940. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The stock’s 50 day moving average price is $127.31 and its two-hundred day moving average price is $122.19. The firm has a market capitalization of $97.00 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 2.08 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08.

Prologis Increases Dividend

The company also recently announced 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 boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is presently 112.28%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PLD shares. Argus reduced their target price on shares of Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research note on Monday. BMO Capital Markets cut shares of 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 note on Monday. UBS Group reduced their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Mizuho reiterated a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. Finally, Morgan Stanley raised their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $135.41.

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.