Prologis, Inc. (NYSE:PLD) Position Cut by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC trimmed its stake in Prologis, Inc. (NYSE:PLD) by 22.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,157 shares of the real estate investment trust’s stock after selling 642 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Prologis were worth $228,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Dunhill Financial LLC raised its stake in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares in the last quarter. Hara Capital LLC bought a new stake in shares of Prologis during the third quarter valued at about $48,000. Coastline Trust Co bought a new stake in shares of Prologis during the third quarter valued at about $52,000. Fortitude Family Office LLC raised its stake in shares of Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares in the last quarter. Finally, Reston Wealth Management LLC bought a new stake in shares of Prologis during the third quarter valued at about $70,000. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on PLD. Barclays boosted their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Mizuho dropped their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Truist Financial boosted their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Down 1.2 %

PLD stock opened at $117.88 on Tuesday. The company has a market cap of $109.17 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 2.66 and a beta of 1.09. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $111.03 and a two-hundred day moving average of $118.37.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.26%. Prologis’s payout ratio is 96.00%.

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.