Stelac Advisory Services LLC Sells 30,000 Shares of Prologis, Inc. (NYSE:PLD)

Stelac Advisory Services LLC trimmed its holdings in shares of Prologis, Inc. (NYSE:PLDFree Report) by 13.9% in the 4th quarter, reports. The fund owned 185,255 shares of the real estate investment trust’s stock after selling 30,000 shares during the quarter. Prologis comprises approximately 13.3% of Stelac Advisory Services LLC’s holdings, making the stock its largest holding. Stelac Advisory Services LLC’s holdings in Prologis were worth $24,694,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Thompson Investment Management Inc. acquired a new position in Prologis in the fourth quarter valued at approximately $28,000. JFS Wealth Advisors LLC boosted its holdings in Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 168 shares in the last quarter. Salem Investment Counselors Inc. acquired a new stake in Prologis during the fourth quarter valued at $37,000. Private Wealth Management Group LLC purchased a new position in Prologis in the fourth quarter valued at $38,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Prologis in the fourth quarter worth about $39,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE:PLD traded up $0.71 during midday trading on Friday, hitting $111.50. The company had a trading volume of 3,260,724 shares, compared to its average volume of 4,229,148. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a market cap of $103.23 billion, a price-to-earnings ratio of 32.60, a price-to-earnings-growth ratio of 2.31 and a beta of 1.05. 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’s 50-day simple moving average is $117.08 and its 200-day simple moving average is $122.10.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Monday, June 17th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Barclays decreased their target price on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. The Goldman Sachs Group cut their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a 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 report on Monday, April 22nd. Finally, BMO Capital Markets cut shares of Prologis from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $145.00 to $112.00 in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.35.

View Our Latest Research Report on PLD

Prologis Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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