QRG Capital Management Inc. Acquires 2,634 Shares of Prologis, Inc. (NYSE:PLD)

QRG Capital Management Inc. grew its holdings in Prologis, Inc. (NYSE:PLD) by 3.1% in the 1st quarter, Holdings Channel reports. The fund owned 88,801 shares of the real estate investment trust’s stock after purchasing an additional 2,634 shares during the quarter. QRG Capital Management Inc.’s holdings in Prologis were worth $11,564,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Family Legacy Inc. boosted its position in shares of Prologis by 0.5% in the fourth quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock valued at $2,217,000 after acquiring an additional 87 shares during the period. Lockerman Financial Group Inc. lifted its position in Prologis by 2.0% in the fourth quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock worth $587,000 after purchasing an additional 87 shares during the period. Hixon Zuercher LLC lifted its position in Prologis by 0.6% in the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock worth $1,950,000 after purchasing an additional 88 shares during the period. AdvisorNet Financial Inc lifted its position in Prologis by 11.0% in the fourth quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 90 shares during the period. Finally, CVA Family Office LLC lifted its position in Prologis by 21.4% in the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 94 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Trading Up 0.3 %

PLD stock traded up $0.32 during midday trading on Tuesday, reaching $121.46. The stock had a trading volume of 3,417,985 shares, compared to its average volume of 3,690,855. The business has a fifty day simple moving average of $110.73 and a two-hundred day simple moving average of $120.41. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. The firm has a market cap of $112.45 billion, a price-to-earnings ratio of 35.47, a PEG ratio of 2.85 and a beta of 1.06. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.16%. Prologis’s payout ratio is 112.28%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PLD shares. Mizuho reduced their target price on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. StockNews.com cut Prologis from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. UBS Group reduced their target price on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Robert W. Baird dropped their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Scotiabank dropped their price objective on Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $129.94.

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.