Beach Investment Counsel Inc. PA Has $951,000 Stake in Prologis, Inc. (NYSE:PLD)

Beach Investment Counsel Inc. PA decreased its position in Prologis, Inc. (NYSE:PLD) by 20.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,996 shares of the real estate investment trust’s stock after selling 2,361 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Prologis were worth $951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dunhill Financial LLC increased its stake in Prologis by 239.5% in the third 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 in the last quarter. Hara Capital LLC bought a new stake in Prologis in the third quarter valued at $48,000. Coastline Trust Co bought a new stake in Prologis in the third quarter valued at $52,000. Fortitude Family Office LLC increased its stake in Prologis by 120.6% in the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares in the last quarter. Finally, Hanson & Doremus Investment Management increased its stake in Prologis by 42.2% in the fourth quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Down 0.4 %

NYSE:PLD opened at $117.33 on Tuesday. The company has a 50-day moving average price of $111.03 and a 200-day moving average price of $118.37. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock has a market cap of $108.67 billion, a price-to-earnings ratio of 29.39, a P/E/G ratio of 2.66 and a beta of 1.10.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Analysts Set New Price Targets

PLD has been the subject of several recent research reports. The Goldman Sachs Group reissued 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. JPMorgan Chase & Co. decreased their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Mizuho cut their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, UBS Group boosted their target price on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $128.78.

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.