Park Place Capital Corp Has $1.25 Million Position in Prologis, Inc. (NYSE:PLD)

Park Place Capital Corp reduced its holdings in Prologis, Inc. (NYSE:PLD) by 16.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,602 shares of the real estate investment trust’s stock after selling 1,832 shares during the period. Park Place Capital Corp’s holdings in Prologis were worth $1,250,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Family Legacy Inc. increased its stake in shares of Prologis by 0.5% during the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after purchasing an additional 87 shares during the last quarter. Lockerman Financial Group Inc. grew its stake in Prologis by 2.0% in the 4th quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock valued at $587,000 after buying an additional 87 shares during the last quarter. Hixon Zuercher LLC grew its stake in Prologis by 0.6% in the 4th quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock valued at $1,950,000 after buying an additional 88 shares during the last quarter. AdvisorNet Financial Inc grew its stake in Prologis by 11.0% in the 4th quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 90 shares during the last quarter. Finally, CVA Family Office LLC grew its stake in Prologis by 21.4% in the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 94 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of NYSE PLD traded down $0.36 during trading hours on Monday, hitting $111.95. 2,380,745 shares of the stock were exchanged, compared to its average volume of 3,755,133. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $103.65 billion, a PE ratio of 32.73, a price-to-earnings-growth ratio of 2.50 and a beta of 1.06. The company’s fifty day simple moving average is $108.14 and its two-hundred day simple moving average is $121.77. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a dividend of $0.96 per share. The ex-dividend date was Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.43%. Prologis’s dividend payout ratio is 112.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Mizuho decreased their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Robert W. Baird decreased their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. decreased their price target on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. UBS Group decreased their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, StockNews.com lowered shares of Prologis from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

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.