New Hampshire Trust Sells 779 Shares of Prologis, Inc. (NYSE:PLD)

New Hampshire Trust trimmed its stake in shares of Prologis, Inc. (NYSE:PLD) by 19.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,244 shares of the real estate investment trust’s stock after selling 779 shares during the period. New Hampshire Trust’s holdings in Prologis were worth $343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PLD. Coronation Fund Managers Ltd. bought a new position in shares of Prologis during the 2nd quarter valued at $878,000. Edgestream Partners L.P. purchased a new stake in Prologis during the second quarter valued at $241,000. Blair William & Co. IL lifted its holdings in Prologis by 6.1% in the second quarter. Blair William & Co. IL now owns 30,965 shares of the real estate investment trust’s stock valued at $3,478,000 after acquiring an additional 1,779 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Prologis by 81.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 14,750 shares of the real estate investment trust’s stock worth $1,656,000 after purchasing an additional 6,611 shares during the last quarter. Finally, Profund Advisors LLC increased its position in shares of Prologis by 2.9% during the 2nd quarter. Profund Advisors LLC now owns 14,341 shares of the real estate investment trust’s stock valued at $1,611,000 after purchasing an additional 409 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Down 1.3 %

Shares of PLD stock opened at $109.51 on Tuesday. The company’s fifty day simple moving average is $110.34 and its two-hundred day simple moving average is $118.36. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The stock has a market cap of $101.43 billion, a P/E ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is presently 116.01%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PLD. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Mizuho dropped their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced 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. Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Barclays upped 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Company 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.