Prologis, Inc. (NYSE:PLD) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,800 shares of the real estate investment trust’s stock after selling 1,588 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Prologis were worth $5,581,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Centricity Wealth Management LLC purchased a new stake in Prologis during the fourth quarter worth approximately $30,000. Dunhill Financial LLC boosted its stake in shares of Prologis by 239.5% in the third 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 in the last quarter. Whipplewood Advisors LLC purchased a new stake in Prologis during the fourth quarter worth $34,000. Promus Capital LLC purchased a new stake in shares of Prologis in the fourth quarter valued at $34,000. Finally, Coastline Trust Co purchased a new stake in shares of Prologis in the third quarter valued at $52,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Mizuho dropped their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. BTIG Research reduced their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Robert W. Baird increased their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, UBS Group increased their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Price Performance

Shares of NYSE PLD opened at $115.70 on Thursday. The stock has a market capitalization of $107.23 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 2.70 and a beta of 1.09. The business has a 50-day moving average of $116.65 and a 200-day moving average of $117.78. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.27.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.49%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred 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 completion of the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

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.