Veracity Capital LLC Cuts Position in Prologis, Inc. (NYSE:PLD)

Veracity Capital LLC trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 8.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,253 shares of the real estate investment trust’s stock after selling 208 shares during the period. Veracity Capital LLC’s holdings in Prologis were worth $238,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. ASB Consultores LLC raised its stake in Prologis by 3.7% during the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 86 shares during the last quarter. CX Institutional increased its holdings in shares of Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after acquiring an additional 88 shares in the last quarter. DT Investment Partners LLC raised its position in shares of Prologis by 9.8% in the 3rd quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 93 shares during the last quarter. Carmel Capital Partners LLC boosted its stake in Prologis by 2.6% in the 3rd quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after purchasing an additional 94 shares in the last quarter. Finally, Yoder Wealth Management Inc. grew its position in Prologis by 4.0% during the 3rd quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock valued at $316,000 after purchasing an additional 97 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

PLD opened at $118.90 on Friday. The company has a 50 day simple moving average of $110.38 and a two-hundred day simple moving average of $118.34. 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 firm has a market cap of $110.12 billion, a P/E ratio of 29.73, a PEG ratio of 3.19 and a beta of 1.09. 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. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.23%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PLD shares. Wolfe Research decreased their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Mizuho dropped their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and cut their price objective for the stock from $124.00 to $123.00 in a report on Monday, January 6th. Finally, Barclays increased 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Prologis presently has an average 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.