Picton Mahoney Asset Management Lowers Holdings in Prologis, Inc. (NYSE:PLD)

Picton Mahoney Asset Management cut its position in Prologis, Inc. (NYSE:PLD) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,785 shares of the real estate investment trust’s stock after selling 2,555 shares during the quarter. Picton Mahoney Asset Management’s holdings in Prologis were worth $3,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Columbia Trust Co 01012016 raised its position in shares of Prologis by 16.0% during the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after buying an additional 723 shares in the last quarter. Cyndeo Wealth Partners LLC grew its holdings in shares of Prologis by 39.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after purchasing an additional 11,882 shares during the last quarter. DNB Asset Management AS grew its holdings in shares of Prologis by 17.1% during the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after purchasing an additional 42,073 shares during the last quarter. Grassi Investment Management grew its holdings in shares of Prologis by 31.8% during the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after purchasing an additional 60,900 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. grew its holdings in shares of Prologis by 255.0% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock valued at $2,149,000 after purchasing an additional 11,582 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PLD shares. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Morgan Stanley boosted their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. The Goldman Sachs Group decreased their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Argus decreased their price objective on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Royal Bank of Canada decreased their price objective on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Stock Down 1.7 %

NYSE:PLD traded down $1.87 during mid-day trading on Wednesday, hitting $105.89. 2,947,728 shares of the company’s stock were exchanged, compared to its average volume of 3,559,533. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The business has a fifty day moving average price of $121.06 and a 200 day moving average price of $121.90. The company has a market cap of $98.04 billion, a PE ratio of 30.96, a P/E/G ratio of 2.20 and a beta of 1.05.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, March 15th. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio is currently 112.28%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.