Sanctuary Advisors LLC Sells 40,347 Shares of Prologis, Inc. (NYSE:PLD)

Sanctuary Advisors LLC lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 21.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 144,345 shares of the real estate investment trust’s stock after selling 40,347 shares during the period. Sanctuary Advisors LLC’s holdings in Prologis were worth $15,257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dunhill Financial LLC increased 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 during the period. Hara Capital LLC bought a new stake in Prologis during the 3rd quarter worth approximately $48,000. Coastline Trust Co acquired a new position in Prologis in the 3rd quarter valued at approximately $52,000. Asset Planning Inc bought a new position in shares of Prologis during the fourth quarter valued at $53,000. Finally, Fortitude Family Office LLC raised its stake in shares of Prologis by 120.6% during the third 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 during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $120.84 on Tuesday. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The firm has a market capitalization of $111.92 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. The firm has a fifty day simple moving average of $111.71 and a two-hundred day simple moving average of $118.03. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

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 given a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.18%. Prologis’s payout ratio is 96.00%.

Analysts Set New Price Targets

PLD has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Barclays increased their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, UBS Group increased their target price on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’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 owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

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.