AlphaStar Capital Management LLC Has $645,000 Position in Prologis, Inc. (NYSE:PLD)

AlphaStar Capital Management LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 66.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,100 shares of the real estate investment trust’s stock after selling 11,910 shares during the period. AlphaStar Capital Management LLC’s holdings in Prologis were worth $645,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Empirical Asset Management LLC increased its stake in shares of Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 52,963 shares during the last quarter. Sunflower Bank N.A. acquired a new stake in Prologis in the third quarter valued at about $249,000. Cardano Risk Management B.V. grew its position 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. DekaBank Deutsche Girozentrale raised its stake in Prologis by 2.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after acquiring an additional 29,400 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Prologis in the third quarter worth about $1,051,000. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wolfe Research decreased their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. JPMorgan Chase & Co. cut their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, Scotiabank cut their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Down 1.0 %

Shares of Prologis stock opened at $117.39 on Friday. The stock’s 50-day moving average is $111.11 and its 200 day moving average is $118.24. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The firm has a market cap of $108.72 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is 96.00%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.50% of the company’s stock.

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.