InTrack Investment Management Inc Sells 3,604 Shares of Prologis, Inc. (NYSE:PLD)

InTrack Investment Management Inc reduced its position in Prologis, Inc. (NYSE:PLD) by 55.6% in the 4th quarter, Holdings Channel reports. The firm owned 2,880 shares of the real estate investment trust’s stock after selling 3,604 shares during the quarter. InTrack Investment Management Inc’s holdings in Prologis were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis during the 2nd quarter valued at about $27,000. Dunhill Financial LLC lifted its stake in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Sunbelt Securities Inc. boosted its holdings in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares in the last quarter. Hara Capital LLC bought a new stake in shares of Prologis in the 3rd quarter valued at approximately $48,000. Finally, Coastline Trust Co acquired a new position in shares of Prologis in the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PLD. Raymond James reaffirmed an “outperform” rating and issued a $125.00 price target (down previously from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. BTIG Research lowered their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and decreased their price objective for the stock from $124.00 to $123.00 in a research note on Monday, January 6th. One equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.67.

Prologis Stock Down 1.3 %

Shares of NYSE:PLD opened at $109.51 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market cap of $101.43 billion, a price-to-earnings ratio of 33.09, a P/E/G ratio of 2.85 and a beta of 1.09. The company has a 50 day moving average of $110.47 and a 200-day moving average of $118.31. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.51%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 116.01%.

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.