ZRC Wealth Management LLC Decreases Stock Position in Prologis, Inc. (NYSE:PLD)

ZRC Wealth Management LLC reduced its holdings in shares of Prologis, Inc. (NYSE:PLD) by 18.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,415 shares of the real estate investment trust’s stock after selling 1,249 shares during the quarter. ZRC Wealth Management LLC’s holdings in Prologis were worth $705,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Family Legacy Inc. increased its position in Prologis by 0.5% during the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock worth $2,217,000 after purchasing an additional 87 shares in the last quarter. Lockerman Financial Group Inc. grew its holdings in shares of Prologis by 2.0% during the fourth quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock worth $587,000 after buying an additional 87 shares in the last quarter. Hixon Zuercher LLC raised its position in shares of Prologis by 0.6% in the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock valued at $1,950,000 after buying an additional 88 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Prologis by 11.0% during the fourth quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 90 shares during the period. Finally, CVA Family Office LLC boosted its position in Prologis by 21.4% during the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 94 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of NYSE:PLD traded up $0.09 during trading hours on Thursday, hitting $113.30. The stock had a trading volume of 1,339,492 shares, compared to its average volume of 3,843,346. The stock’s fifty day simple moving average is $108.66 and its 200 day simple moving average is $121.39. The firm has a market capitalization of $104.90 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 2.52 and a beta of 1.06. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s payout ratio is currently 112.28%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PLD shares. Evercore ISI dropped their price objective on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. The Goldman Sachs Group cut their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Robert W. Baird decreased their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Scotiabank dropped their price objective on Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a report on Thursday, May 16th. Finally, Barclays reduced their target price on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus price target of $129.76.

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.