Gilman Hill Asset Management LLC Cuts Position in Prologis, Inc. (NYSE:PLD)

Gilman Hill Asset Management LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 20.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,625 shares of the real estate investment trust’s stock after selling 1,160 shares during the period. Gilman Hill Asset Management LLC’s holdings in Prologis were worth $489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Semmax Financial Advisors Inc. purchased a new stake in Prologis during the second quarter valued at $27,000. Dunhill Financial LLC increased its holdings in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of 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 buying an additional 224 shares in the last quarter. Hara Capital LLC bought a new position in shares of Prologis in the 3rd quarter valued at about $48,000. Finally, Coastline Trust Co purchased a new position in Prologis in the third quarter worth about $52,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Trading Down 1.3 %

NYSE:PLD opened at $109.51 on Tuesday. The firm has a 50-day simple moving average of $110.34 and a 200-day simple moving average of $118.36. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The firm has a market cap of $101.43 billion, a P/E ratio of 33.09, a P/E/G ratio of 2.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLD. JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday. Mizuho cut their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Raymond James reaffirmed an “outperform” rating and set a $125.00 price target (down from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.67.

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.