Atomi Financial Group Inc. Increases Stake in Prologis, Inc. (NYSE:PLD)

Atomi Financial Group Inc. grew its holdings in Prologis, Inc. (NYSE:PLD) by 11.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,028 shares of the real estate investment trust’s stock after buying an additional 511 shares during the quarter. Atomi Financial Group Inc.’s holdings in Prologis were worth $532,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PLD. Segment Wealth Management LLC boosted its stake in shares of Prologis by 4.3% in the fourth quarter. Segment Wealth Management LLC now owns 6,002 shares of the real estate investment trust’s stock worth $634,000 after acquiring an additional 245 shares during the last quarter. Perpetual Ltd raised its position in Prologis by 38.5% in the fourth quarter. Perpetual Ltd now owns 288,800 shares of the real estate investment trust’s stock valued at $30,526,000 after purchasing an additional 80,244 shares during the period. Royal Fund Management LLC purchased a new stake in shares of Prologis in the 4th quarter valued at $1,469,000. Strong Tower Advisory Services raised its holdings in shares of Prologis by 30.1% in the 4th quarter. Strong Tower Advisory Services now owns 2,550 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 590 shares during the period. Finally, Sarasin & Partners LLP raised its holdings in shares of Prologis by 0.3% in the 4th quarter. Sarasin & Partners LLP now owns 936,862 shares of the real estate investment trust’s stock valued at $99,026,000 after buying an additional 2,814 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PLD shares. Truist Financial cut their price target on Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Wolfe Research decreased their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Scotiabank decreased their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $128.67.

Prologis Price Performance

NYSE PLD opened at $118.38 on Friday. The business’s fifty day moving average is $110.31 and its two-hundred day moving average is $118.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The stock has a market capitalization of $109.64 billion, a P/E ratio of 29.59, a P/E/G ratio of 3.25 and a beta of 1.09.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Prologis Profile

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.