Dakota Wealth Management Sells 5,077 Shares of Prologis, Inc. (NYSE:PLD)

Dakota Wealth Management reduced its holdings in shares of Prologis, Inc. (NYSE:PLD) by 34.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,839 shares of the real estate investment trust’s stock after selling 5,077 shares during the quarter. Dakota Wealth Management’s holdings in Prologis were worth $1,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Coronation Fund Managers Ltd. bought a new position in Prologis during the second quarter valued at about $878,000. Gabelli Funds LLC grew its position in shares of Prologis by 3.6% during the 2nd quarter. Gabelli Funds LLC now owns 3,205 shares of the real estate investment trust’s stock valued at $360,000 after acquiring an additional 110 shares during the period. Marshall Wace LLP purchased a new stake in shares of Prologis during the 2nd quarter worth approximately $12,946,000. Fred Alger Management LLC lifted its stake in Prologis by 5.5% in the second quarter. Fred Alger Management LLC now owns 24,814 shares of the real estate investment trust’s stock valued at $2,787,000 after purchasing an additional 1,297 shares during the last quarter. Finally, MBB Public Markets I LLC lifted its stake in Prologis by 1,903.9% in the second quarter. MBB Public Markets I LLC now owns 65,466 shares of the real estate investment trust’s stock valued at $7,352,000 after purchasing an additional 62,199 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.3 %

Shares of NYSE PLD opened at $118.90 on Friday. The business has a 50-day moving average of $110.38 and a 200-day moving average of $118.34. The firm has a market capitalization of $110.12 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 3.19 and a beta of 1.09. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Dividend Announcement

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 $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is 96.00%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PLD. Mizuho lowered their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday. Scotiabank reduced their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $124.00 to $123.00 in a research note on Monday, January 6th. Finally, Raymond James reiterated an “outperform” rating and issued a $125.00 price objective (down from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.67.

About Prologis

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.