MCF Advisors LLC Sells 497 Shares of Prologis, Inc. (NYSE:PLD)

MCF Advisors LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,847 shares of the real estate investment trust’s stock after selling 497 shares during the quarter. MCF Advisors LLC’s holdings in Prologis were worth $512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis during the second quarter valued at approximately $27,000. Sunbelt Securities Inc. boosted its holdings in shares of Prologis by 640.0% during 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 in the last quarter. Dunhill Financial LLC grew its position in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the period. Hara Capital LLC purchased a new position in Prologis during the 3rd quarter valued at about $48,000. Finally, Coastline Trust Co purchased a new position in Prologis during the 3rd quarter valued at about $52,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of several recent research reports. Raymond James restated an “outperform” rating and issued a $125.00 price target (down previously from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. Truist Financial decreased their target price on shares of Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a report on Friday, January 17th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $128.67.

Prologis Stock Performance

Shares of PLD opened at $117.27 on Wednesday. The stock has a 50-day moving average of $110.25 and a two-hundred day moving average of $118.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market cap of $108.62 billion, a P/E ratio of 35.43, a P/E/G ratio of 3.01 and a beta of 1.09. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76.

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 dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is presently 116.01%.

Prologis Company 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.