Core Alternative Capital Sells 169 Shares of Prologis, Inc. (NYSE:PLD)

Core Alternative Capital lessened its position in shares of Prologis, Inc. (NYSE:PLD) by 21.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 623 shares of the real estate investment trust’s stock after selling 169 shares during the period. Core Alternative Capital’s holdings in Prologis were worth $66,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dunhill Financial LLC increased its position in Prologis by 239.5% during the 3rd 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 in the last quarter. Hara Capital LLC acquired a new position in Prologis during the 3rd quarter worth approximately $48,000. Coastline Trust Co acquired a new position in Prologis during the 3rd quarter worth approximately $52,000. Fortitude Family Office LLC increased its position in Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares in the last quarter. Finally, Hanson & Doremus Investment Management increased its position in Prologis by 42.2% during the 4th quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the 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 transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Royal Bank of Canada upped their price objective on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. BTIG Research decreased their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Up 1.7 %

Shares of NYSE PLD opened at $119.40 on Tuesday. The firm has a market cap of $110.58 billion, a PE ratio of 29.85, a P/E/G ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The company’s fifty day simple moving average is $111.11 and its 200 day simple moving average is $118.15. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.22%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is presently 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.