Sterling Investment Counsel LLC cut its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 65.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,640 shares of the real estate investment trust's stock after selling 7,013 shares during the quarter. Sterling Investment Counsel LLC's holdings in Prologis were worth $385,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. YHB Investment Advisors Inc. raised its holdings in shares of Prologis by 1.5% during the fourth quarter. YHB Investment Advisors Inc. now owns 27,778 shares of the real estate investment trust's stock valued at $2,936,000 after acquiring an additional 409 shares during the last quarter. Vert Asset Management LLC raised its stake in Prologis by 12.1% in the 4th quarter. Vert Asset Management LLC now owns 182,621 shares of the real estate investment trust's stock valued at $19,303,000 after purchasing an additional 19,750 shares during the last quarter. BankPlus Wealth Management LLC purchased a new position in Prologis in the 4th quarter valued at $268,000. Berkshire Bank grew its holdings in shares of Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock worth $443,000 after buying an additional 95 shares in the last quarter. Finally, Baldwin Wealth Partners LLC MA grew its holdings in shares of Prologis by 11.7% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 85,251 shares of the real estate investment trust's stock worth $9,011,000 after buying an additional 8,903 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.
Prologis Trading Down 0.8 %
NYSE:PLD traded down $1.02 during mid-day trading on Tuesday, reaching $120.23. The company's stock had a trading volume of 3,492,585 shares, compared to its average volume of 4,804,446. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company's fifty day simple moving average is $110.63 and its two-hundred day simple moving average is $118.41. The stock has a market cap of $111.35 billion, a P/E ratio of 30.06, a P/E/G ratio of 3.19 and a beta of 1.09. 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 Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Monday, December 16th. Prologis's dividend payout ratio (DPR) is presently 96.00%.
Analyst Ratings Changes
Several analysts recently issued reports on PLD shares. Barclays upped their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a research note on Monday, November 18th. BNP Paribas upgraded Prologis to a "strong-buy" rating in a report on Wednesday, January 22nd. Scotiabank reduced their price objective on Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Monday. BMO Capital Markets cut Prologis from a "market perform" rating to an "underperform" rating and decreased their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, Wolfe Research lowered their price target on shares of Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a report on Friday, January 17th. One investment 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 stock. According to data from MarketBeat.com, Prologis currently has an average rating of "Moderate Buy" and an average target price of $128.72.
Read Our Latest Stock Analysis on Prologis
About Prologis
(
Free Report)
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.
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