Stableford Capital II LLC Cuts Stake in Prologis, Inc. (NYSE:PLD)

Stableford Capital II LLC cut its stake in Prologis, Inc. (NYSE:PLD) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,279 shares of the real estate investment trust’s stock after selling 232 shares during the quarter. Prologis makes up approximately 0.9% of Stableford Capital II LLC’s portfolio, making the stock its 28th largest holding. Stableford Capital II LLC’s holdings in Prologis were worth $2,249,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PLD. Sunbelt Securities Inc. grew its stake in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares in the last quarter. Dunhill Financial LLC increased 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 purchasing an additional 182 shares during the last quarter. Hara Capital LLC purchased a new position in Prologis during the third quarter worth approximately $48,000. Coastline Trust Co acquired a new position in Prologis during the third quarter worth $52,000. Finally, Fortitude Family Office LLC increased its stake 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 worth $55,000 after acquiring an additional 240 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLD. Mizuho reduced their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. 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 report on Monday, January 27th. Robert W. Baird lifted their price target on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Down 1.3 %

Prologis stock opened at $119.14 on Friday. The company has a market capitalization of $110.34 billion, a P/E ratio of 29.78, a PEG ratio of 2.66 and a beta of 1.09. 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, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The stock has a 50-day simple moving average of $111.03 and a 200-day simple moving average of $118.42.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is currently 96.00%.

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.