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, HoldingsChannel.com 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

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLDFree Report).

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.