BTC Capital Management Inc. Sells 344 Shares of Prologis, Inc. (NYSE:PLD)

BTC Capital Management Inc. reduced its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 67,093 shares of the real estate investment trust’s stock after selling 344 shares during the period. BTC Capital Management Inc.’s holdings in Prologis were worth $7,087,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. ASB Consultores LLC lifted its stake in shares of Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 86 shares during the last quarter. CX Institutional raised its position in Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 88 shares in the last quarter. DT Investment Partners LLC raised its position in Prologis by 9.8% during the 3rd quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 93 shares in the last quarter. Carmel Capital Partners LLC raised its position in Prologis by 2.6% during the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 94 shares in the last quarter. Finally, Berkshire Bank raised its position in shares of Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock worth $443,000 after acquiring an additional 95 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on PLD. BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Scotiabank reduced their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday. Wolfe Research reduced their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. BTIG Research reduced their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, Truist Financial boosted their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

Shares of PLD stock opened at $120.66 on Friday. The stock has a market cap of $111.75 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09. The business has a 50-day simple moving average of $110.96 and a 200-day simple moving average of $118.44. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.18%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Prologis Company 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.