AlphaStar Capital Management LLC Has $645,000 Holdings in Prologis, Inc. (NYSE:PLD)

AlphaStar Capital Management LLC lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 66.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,100 shares of the real estate investment trust’s stock after selling 11,910 shares during the period. AlphaStar Capital Management LLC’s holdings in Prologis were worth $645,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB lifted its stake in Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. CWM LLC lifted its position in shares of Prologis by 6.6% during the third quarter. CWM LLC now owns 20,255 shares of the real estate investment trust’s stock valued at $2,558,000 after purchasing an additional 1,257 shares in the last quarter. Wedmont Private Capital lifted its position in shares of Prologis by 14.6% during the third quarter. Wedmont Private Capital now owns 5,569 shares of the real estate investment trust’s stock valued at $668,000 after purchasing an additional 710 shares in the last quarter. Pinnacle Bancorp Inc. boosted its holdings in Prologis by 12.2% during the third quarter. Pinnacle Bancorp Inc. now owns 2,074 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 225 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC bought a new stake in Prologis in the 3rd quarter worth about $406,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were 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 of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Stock Performance

NYSE:PLD opened at $117.39 on Friday. The business’s fifty day moving average is $111.11 and its 200 day moving average is $118.24. The firm has a market cap of $108.72 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is presently 96.00%.

Analysts Set New Price Targets

PLD has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. BTIG Research dropped their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. reduced their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Truist Financial lifted their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Scotiabank decreased their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

About Prologis

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.