Hartford Investment Management Co. Sells 1,193 Shares of Prologis, Inc. (NYSE:PLD)

Hartford Investment Management Co. decreased its stake in shares of Prologis, Inc. (NYSE:PLDFree Report) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,316 shares of the real estate investment trust’s stock after selling 1,193 shares during the quarter. Hartford Investment Management Co.’s holdings in Prologis were worth $8,307,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Columbia Trust Co 01012016 increased its holdings in shares of Prologis by 16.0% in the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after purchasing an additional 723 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of Prologis by 39.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock worth $5,599,000 after acquiring an additional 11,882 shares in the last quarter. DNB Asset Management AS boosted its position in shares of Prologis by 17.1% during the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after acquiring an additional 42,073 shares during the last quarter. Grassi Investment Management grew its holdings in shares of Prologis by 31.8% in the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after purchasing an additional 60,900 shares in the last quarter. Finally, Selway Asset Management bought a new stake in Prologis in the third quarter worth $177,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PLD shares. Scotiabank boosted their target price on shares of Prologis from $134.00 to $143.00 and gave the stock a “sector outperform” rating in a report on Friday, December 15th. JPMorgan Chase & Co. raised Prologis from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $123.00 to $148.00 in a research note on Monday, December 18th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. Mizuho reiterated a “neutral” rating and set a $130.00 price objective on shares of Prologis in a research note on Tuesday. Finally, Robert W. Baird raised their target price on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $141.67.

View Our Latest Stock Analysis on Prologis

Prologis Stock Performance

NYSE:PLD traded up $0.79 during mid-day trading on Wednesday, hitting $126.37. The company’s stock had a trading volume of 926,775 shares, compared to its average volume of 3,080,208. The business’s fifty day moving average is $130.61 and its two-hundred day moving average is $121.85. The stock has a market cap of $116.90 billion, a price-to-earnings ratio of 38.30, a PEG ratio of 2.56 and a beta of 1.00. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30.

Prologis (NYSE:PLDGet Free Report) last issued its earnings results on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.58). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a return on equity of 5.29% and a net margin of 38.13%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 EPS. Analysts anticipate that Prologis, Inc. will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.04%. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is presently 116.72%.

Prologis Company Profile

(Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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