Prologis, Inc. (NYSE:PLD) Shares Sold by Childress Capital Advisors LLC

Childress Capital Advisors LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 11.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,236 shares of the real estate investment trust’s stock after selling 290 shares during the period. Childress Capital Advisors LLC’s holdings in Prologis were worth $236,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PLD. ASB Consultores LLC grew its holdings in shares of Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares in the last quarter. CX Institutional grew its holdings in shares of Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 88 shares in the last quarter. DT Investment Partners LLC grew its holdings in shares of Prologis by 9.8% in the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 93 shares in the last quarter. Carmel Capital Partners LLC grew its holdings in shares of Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 94 shares in the last quarter. Finally, Berkshire Bank grew its holdings in shares of Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of PLD opened at $118.38 on Wednesday. The company has a 50-day simple moving average of $111.02 and a 200-day simple moving average of $118.33. 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 $109.64 billion, a PE ratio of 29.59, a P/E/G ratio of 2.66 and a beta of 1.10. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 dividend yield of 3.24%. Prologis’s dividend payout ratio is presently 96.00%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Mizuho dropped their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Wolfe Research dropped their price objective 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. BTIG Research decreased their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

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.