Sage Rhino Capital LLC Buys 134 Shares of Prologis, Inc. (NYSE:PLD)

Sage Rhino Capital LLC boosted its stake in Prologis, Inc. (NYSE:PLD) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,026 shares of the real estate investment trust’s stock after purchasing an additional 134 shares during the quarter. Sage Rhino Capital LLC’s holdings in Prologis were worth $214,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dunhill Financial LLC grew its stake in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the period. Centricity Wealth Management LLC bought a new position in Prologis in the fourth quarter worth approximately $30,000. Whipplewood Advisors LLC acquired a new stake in Prologis in the fourth quarter valued at approximately $34,000. Hara Capital LLC bought a new stake in shares of Prologis during the third quarter valued at approximately $48,000. Finally, Coastline Trust Co acquired a new position in shares of Prologis during the third quarter worth approximately $52,000. 93.50% of the stock is owned by institutional investors.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on PLD shares. Robert W. Baird lifted their price target on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $120.00 to $104.00 in a report on Friday, December 6th. Mizuho lowered their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Barclays raised their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

NYSE PLD opened at $123.48 on Tuesday. The company has a market capitalization of $114.45 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a 50-day simple moving average of $114.66 and a 200 day simple moving average of $118.00.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is 101.00%.

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.