Janney Capital Management LLC Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

Janney Capital Management LLC lessened its position in Prologis, Inc. (NYSE:PLD) by 14.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 18,638 shares of the real estate investment trust’s stock after selling 3,044 shares during the period. Janney Capital Management LLC’s holdings in Prologis were worth $1,970,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis in the second quarter worth about $27,000. Sunbelt Securities Inc. grew its position in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the last quarter. Dunhill Financial LLC grew its position 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. Hara Capital LLC purchased a new position in shares of Prologis during the third quarter valued at approximately $48,000. Finally, Coastline Trust Co bought a new position in shares of Prologis during the third quarter valued at approximately $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 1.8 %

Shares of Prologis stock opened at $115.16 on Thursday. The company has a 50-day simple moving average of $110.34 and a two-hundred day simple moving average of $118.36. The stock has a market capitalization of $106.66 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 3.01 and a beta of 1.09. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.33%. Prologis’s payout ratio is currently 116.01%.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of research analyst reports. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and cut their target price for the company from $124.00 to $123.00 in a research note on Monday, January 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Scotiabank cut their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. 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 report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.