Capital Advisors Ltd. LLC Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Capital Advisors Ltd. LLC lessened its holdings in Prologis, Inc. (NYSE:PLD) by 24.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 399 shares of the real estate investment trust’s stock after selling 127 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Prologis were worth $53,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLD. J.P. Morgan Private Wealth Advisors LLC bought a new position in Prologis in the third quarter worth about $185,164,000. Massachusetts Financial Services Co. MA raised its stake in shares of Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after acquiring an additional 1,034,211 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Prologis by 43.0% in the third quarter. Envestnet Asset Management Inc. now owns 2,402,293 shares of the real estate investment trust’s stock valued at $269,561,000 after acquiring an additional 721,910 shares in the last quarter. Barclays PLC grew its holdings in Prologis by 23.0% in the third quarter. Barclays PLC now owns 2,809,487 shares of the real estate investment trust’s stock worth $315,253,000 after purchasing an additional 525,171 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Prologis by 89.8% during the third quarter. Schroder Investment Management Group now owns 1,004,732 shares of the real estate investment trust’s stock worth $112,741,000 after purchasing an additional 475,229 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Argus dropped their target price on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group decreased their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. The Goldman Sachs Group lowered their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday. Finally, Robert W. Baird upped their target price on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.41.

Prologis Price Performance

Shares of PLD traded up $0.63 during mid-day trading on Thursday, hitting $103.81. 1,611,572 shares of the company were exchanged, compared to its average volume of 3,447,814. The stock has a market cap of $96.03 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a 50 day moving average of $126.24 and a 200-day moving average of $122.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.70%. Prologis’s dividend payout ratio is presently 112.28%.

About Prologis

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.