Prologis, Inc. (NYSE:PLD) Shares Sold by Jmac Enterprises LLC

Jmac Enterprises LLC lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 21.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,320 shares of the real estate investment trust’s stock after selling 1,425 shares during the period. Jmac Enterprises LLC’s holdings in Prologis were worth $562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. 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 purchased a new position in shares of Prologis during the 3rd quarter worth $48,000. Coastline Trust Co purchased a new position in shares of Prologis during the 3rd quarter worth $52,000. Fortitude Family Office LLC increased its position in shares of 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 during the last quarter. Finally, Hanson & Doremus Investment Management raised its holdings in Prologis by 42.2% in the 4th 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 during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PLD shares. Mizuho lowered their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. UBS Group increased their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Barclays raised their price target on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. One research 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by corporate insiders.

Prologis Stock Up 1.9 %

Shares of Prologis stock opened at $121.76 on Wednesday. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a 50 day moving average of $111.19 and a 200 day moving average of $118.14. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $112.77 billion, a P/E ratio of 30.44, a P/E/G ratio of 2.64 and a beta of 1.10.

Prologis Announces Dividend

The company 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. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.15%. 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.