FourThought Financial Partners LLC Sells 11,176 Shares of Prologis, Inc. (NYSE:PLD)

FourThought Financial Partners LLC lowered its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 33.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,269 shares of the real estate investment trust's stock after selling 11,176 shares during the quarter. FourThought Financial Partners LLC's holdings in Prologis were worth $2,354,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PLD. Centricity Wealth Management LLC bought a new position in Prologis in the 4th quarter worth $30,000. Dunhill Financial LLC boosted its stake in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 182 shares during the period. Hara Capital LLC bought a new position in shares of Prologis in the third quarter worth about $48,000. Coastline Trust Co bought a new stake in Prologis during the 3rd quarter valued at approximately $52,000. Finally, Asset Planning Inc purchased a new position in Prologis in the 4th quarter worth approximately $53,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Robert W. Baird increased their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Scotiabank cut their target price on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Monday, January 27th. UBS Group boosted their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. BTIG Research dropped their price objective on shares of Prologis from $154.00 to $134.00 and set a "buy" rating for the company in a report on Friday, January 17th. Finally, BMO Capital Markets cut Prologis from a "market perform" rating to an "underperform" rating and reduced their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $128.78.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares of the company's stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.56% of the stock is owned by company insiders.

Prologis Trading Up 0.9 %

Prologis stock traded up $1.11 during midday trading on Friday, reaching $123.88. The stock had a trading volume of 5,562,229 shares, compared to its average volume of 3,851,597. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a market cap of $114.82 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a fifty day moving average of $113.87 and a 200 day moving average of $118.05.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a positive change from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis's dividend payout ratio (DPR) is currently 101.00%.

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.