Yousif Capital Management LLC Lowers Holdings in Prologis, Inc. (NYSE:PLD)

Yousif Capital Management LLC lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,258 shares of the real estate investment trust’s stock after selling 5,899 shares during the quarter. Yousif Capital Management LLC’s holdings in Prologis were worth $15,988,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Dunhill Financial LLC increased its stake in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of Prologis in the third quarter valued at $48,000. Coastline Trust Co acquired a new stake in shares of Prologis in the third quarter valued at $52,000. Fortitude Family Office LLC grew its stake in shares of 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 buying an additional 240 shares in the last quarter. Finally, Hanson & Doremus Investment Management grew its stake in shares of Prologis by 42.2% in the fourth quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.5 %

Shares of NYSE PLD opened at $118.38 on Wednesday. The company has a market capitalization of $109.64 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The business has a 50-day moving average of $111.02 and a two-hundred day moving average of $118.33. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is currently 96.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PLD shares. Royal Bank of Canada lifted their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Robert W. Baird lifted their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. decreased their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

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.