Prologis, Inc. (NYSE:PLD) Stake Cut by Choreo LLC

Choreo LLC reduced its holdings in Prologis, Inc. (NYSE:PLD) by 20.4% in the 4th quarter, Holdings Channel reports. The fund owned 17,019 shares of the real estate investment trust’s stock after selling 4,369 shares during the period. Choreo LLC’s holdings in Prologis were worth $1,790,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PLD. Dunhill Financial LLC increased its position in 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 purchasing an additional 182 shares during the last quarter. Hara Capital LLC acquired a new position in Prologis in the 3rd quarter worth about $48,000. Coastline Trust Co acquired a new position in Prologis in the 3rd quarter worth about $52,000. Fortitude Family Office LLC increased its position in Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares during the last quarter. Finally, Hanson & Doremus Investment Management increased its position in Prologis by 42.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 185 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLD. Mizuho decreased their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada increased their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Robert W. Baird raised their price objective on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Wolfe Research reduced their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

Prologis stock opened at $117.39 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The company has a market capitalization of $108.72 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The business has a 50 day simple moving average of $111.10 and a 200 day simple moving average of $118.30.

Prologis Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. Prologis’s dividend payout ratio is 96.00%.

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.