Assetmark Inc. Has $6.06 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Assetmark Inc. raised its holdings in Prologis, Inc. (NYSE:PLD) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,339 shares of the real estate investment trust’s stock after acquiring an additional 4,174 shares during the quarter. Assetmark Inc.’s holdings in Prologis were worth $6,061,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Empirical Asset Management LLC lifted its stake in Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after acquiring an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. lifted its stake in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after acquiring an additional 25,266 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in Prologis in the third quarter valued at approximately $1,051,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Prologis in the third quarter worth $7,371,000. Finally, Cumberland Partners Ltd acquired a new stake in shares of Prologis in the third quarter worth $1,566,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Down 0.3 %

Shares of Prologis stock opened at $119.89 on Friday. The firm has a market capitalization of $111.12 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The company’s fifty day moving average price is $115.96 and its two-hundred day moving average price is $117.97. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.37%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is 101.00%.

Insider Buying and Selling 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 shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PLD shares. BTIG Research reduced their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Robert W. Baird boosted their price objective on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Scotiabank reduced their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $128.78.

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.