Rothschild Investment LLC Cuts Position in Prologis, Inc. (NYSE:PLD)

Rothschild Investment LLC lessened its holdings in Prologis, Inc. (NYSE:PLD) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,656 shares of the real estate investment trust’s stock after selling 155 shares during the period. Rothschild Investment LLC’s holdings in Prologis were worth $281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dunhill Financial LLC boosted its position in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Prologis in the 4th quarter worth about $30,000. Hara Capital LLC purchased a new position in shares of Prologis in the 3rd quarter worth about $48,000. Coastline Trust Co purchased a new position in Prologis in the third quarter valued at about $52,000. Finally, Fortitude Family Office LLC boosted its stake in Prologis by 120.6% in 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. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PLD shares. Royal Bank of Canada boosted their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Scotiabank dropped their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Barclays upped their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Robert W. Baird upped their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Price Performance

Shares of NYSE PLD opened at $122.69 on Wednesday. The firm has a market capitalization of $113.72 billion, a P/E ratio of 30.67, a P/E/G ratio of 2.70 and a beta of 1.10. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The stock’s 50-day simple moving average is $113.07 and its two-hundred day simple moving average is $117.99. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.56% of the stock is currently owned by company insiders.

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.