Prologis, Inc. (NYSE:PLD) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. reduced its holdings in shares of Prologis, Inc. (NYSE:PLD) by 5.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,409 shares of the real estate investment trust’s stock after selling 135 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Prologis were worth $255,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PLD. Dunhill Financial LLC increased its holdings in shares of 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 during the period. Hara Capital LLC acquired a new position in shares of Prologis in the third quarter valued at about $48,000. Coastline Trust Co acquired a new position in shares of Prologis in the third quarter valued at about $52,000. Fortitude Family Office LLC increased its holdings in shares of 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 during the period. Finally, Hanson & Doremus Investment Management increased its holdings in shares of 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 during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of research reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. UBS Group increased their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. JPMorgan Chase & Co. lowered their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $119.40 on Tuesday. The company has a market capitalization of $110.58 billion, a P/E ratio of 29.85, a P/E/G ratio of 2.64 and a beta of 1.10. The business’s 50 day moving average is $111.11 and its two-hundred day moving average is $118.15. 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.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.22%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Prologis Profile

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.