Prologis, Inc. (NYSE:PLD) Stake Lessened by Weaver Capital Management LLC

Weaver Capital Management LLC cut its stake in Prologis, Inc. (NYSE:PLD) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,456 shares of the real estate investment trust’s stock after selling 1,254 shares during the period. Weaver Capital Management LLC’s holdings in Prologis were worth $577,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dunhill Financial LLC boosted its holdings 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 acquiring an additional 182 shares in the last quarter. Hara Capital LLC bought a new stake in Prologis during the third quarter worth approximately $48,000. Coastline Trust Co purchased a new stake in shares of Prologis in the 3rd quarter valued at approximately $52,000. Fortitude Family Office LLC lifted its position in shares of Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 240 shares in the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in shares of Prologis in the 3rd quarter valued at approximately $70,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PLD. Barclays upped 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. JPMorgan Chase & Co. cut their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Robert W. Baird increased their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank cut their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a report on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Price Performance

NYSE:PLD opened at $118.38 on Wednesday. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a market capitalization of $109.64 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 2.66 and a beta of 1.10. The company has a 50-day moving average of $111.02 and a 200-day moving average of $118.33. 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 Dividend Announcement

The company 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. This represents a $3.84 annualized dividend and a yield of 3.24%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

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.