Prologis, Inc. (NYSE:PLD) Shares Sold by CX Institutional

CX Institutional lessened its stake in Prologis, Inc. (NYSE:PLD) by 15.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,838 shares of the real estate investment trust’s stock after selling 509 shares during the period. CX Institutional’s holdings in Prologis were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PLD. Sunbelt Securities Inc. increased its position in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares during the period. Dunhill Financial LLC increased its position in Prologis by 239.5% during the 3rd 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 acquired a new position in Prologis during the 3rd quarter worth approximately $48,000. Coastline Trust Co acquired a new position in Prologis during the 3rd quarter worth approximately $52,000. Finally, Fortitude Family Office LLC increased its position in Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

NYSE PLD opened at $118.90 on Monday. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The firm has a market capitalization of $110.12 billion, a PE ratio of 29.73, a P/E/G ratio of 3.19 and a beta of 1.09. The company’s 50 day simple moving average is $110.49 and its 200 day simple moving average is $118.39.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.23%. Prologis’s dividend payout ratio (DPR) is 96.00%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Scotiabank dropped their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Wolfe Research lowered their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. The Goldman Sachs Group restated a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Prologis has an average 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.