Simon Quick Advisors LLC Sells 286 Shares of Prologis, Inc. (NYSE:PLD)

Simon Quick Advisors LLC cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,498 shares of the real estate investment trust’s stock after selling 286 shares during the period. Simon Quick Advisors LLC’s holdings in Prologis were worth $264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLD. Coronation Fund Managers Ltd. purchased a new stake in shares of Prologis in the second quarter worth about $878,000. Gabelli Funds LLC increased its holdings in shares of Prologis by 3.6% in the second quarter. Gabelli Funds LLC now owns 3,205 shares of the real estate investment trust’s stock valued at $360,000 after purchasing an additional 110 shares during the last quarter. Marshall Wace LLP acquired a new stake in Prologis during the second quarter worth about $12,946,000. Fred Alger Management LLC raised its position in Prologis by 5.5% in the second quarter. Fred Alger Management LLC now owns 24,814 shares of the real estate investment trust’s stock valued at $2,787,000 after purchasing an additional 1,297 shares during the period. Finally, APG Asset Management N.V. lifted its holdings in shares of Prologis by 10.0% in the 2nd quarter. APG Asset Management N.V. now owns 2,046,774 shares of the real estate investment trust’s stock worth $214,484,000 after acquiring an additional 186,677 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 2.8 %

Shares of Prologis stock opened at $118.38 on Friday. The firm has a market cap of $109.64 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 3.25 and a beta of 1.09. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The stock’s 50-day moving average is $110.31 and its 200 day moving average is $118.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.24%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays raised their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Raymond James reissued an “outperform” rating and issued a $125.00 target price (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. Truist Financial reduced their target price on Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a report on Friday, January 17th. Scotiabank decreased their price objective on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. Finally, Wolfe Research lowered their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis 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.