Phillips Wealth Planners LLC Sells 469 Shares of Prologis, Inc. (NYSE:PLD)

Phillips Wealth Planners LLC cut its position in Prologis, Inc. (NYSE:PLD) by 11.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,750 shares of the real estate investment trust’s stock after selling 469 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Prologis were worth $388,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis during the 2nd quarter valued at $27,000. Sunbelt Securities Inc. raised its stake in shares of Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the period. Dunhill Financial LLC raised its stake in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the period. Hara Capital LLC bought a new stake in shares of Prologis during the 3rd quarter valued at $48,000. Finally, Coastline Trust Co bought a new stake in shares of Prologis during the 3rd quarter valued at $52,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Down 1.8 %

NYSE PLD opened at $115.16 on Thursday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $110.34 and a 200-day moving average of $118.36. The firm has a market cap of $106.66 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 3.01 and a beta of 1.09.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PLD. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $124.00 to $123.00 in a research note on Monday, January 6th. Raymond James reiterated an “outperform” rating and set a $125.00 price objective (down from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. Barclays boosted their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Scotiabank reduced their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.67.

About Prologis

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.