Sterling Investment Counsel LLC Trims Position in Prologis, Inc. (NYSE:PLD)

Sterling Investment Counsel LLC lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 65.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,640 shares of the real estate investment trust’s stock after selling 7,013 shares during the quarter. Sterling Investment Counsel LLC’s holdings in Prologis were worth $385,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. grew its stake in shares of Prologis by 640.0% in 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 last quarter. Dunhill Financial LLC lifted its holdings in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Hara Capital LLC purchased a new position in Prologis in the 3rd quarter valued at $48,000. Coastline Trust Co acquired a new position in Prologis in the 3rd quarter valued at $52,000. Finally, Fortitude Family Office LLC lifted its stake in shares of Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 240 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Wolfe Research cut their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Barclays upped their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Up 2.0 %

PLD stock opened at $121.29 on Tuesday. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The stock has a market capitalization of $112.33 billion, a P/E ratio of 30.32, a PEG ratio of 3.19 and a beta of 1.09. The company has a 50 day moving average price of $110.49 and a two-hundred day moving average price of $118.41. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is 96.00%.

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.