Dupont Capital Management Corp decreased its holdings in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 23.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,320 shares of the real estate investment trust’s stock after selling 23,040 shares during the quarter. Dupont Capital Management Corp’s holdings in Prologis were worth $7,856,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis during the 2nd quarter worth $27,000. Sunbelt Securities Inc. grew its stake in 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 buying an additional 224 shares during the last quarter. Dunhill Financial LLC grew its stake in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the last quarter. Hara Capital LLC acquired a new position in Prologis in the 3rd quarter valued at $48,000. Finally, Coastline Trust Co acquired a new position in Prologis in the 3rd quarter valued at $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.
Analysts Set New Price Targets
PLD has been the topic of a number of research analyst reports. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. JPMorgan Chase & Co. reduced their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Scotiabank reduced their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a report on Wednesday, December 4th. Finally, Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $124.00 to $123.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and an average price target of $128.67.
Prologis Trading Down 1.8 %
Shares of PLD stock opened at $115.16 on Thursday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a market capitalization of $106.66 billion, a P/E ratio of 34.79, a P/E/G ratio of 3.01 and a beta of 1.09. The firm has a 50-day moving average price of $110.34 and a 200 day moving average price of $118.36. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.
Prologis Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 116.01%.
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.
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