FourThought Financial Partners LLC Sells 11,176 Shares of Prologis, Inc. (NYSE:PLD)

FourThought Financial Partners LLC reduced its holdings in Prologis, Inc. (NYSE:PLD) by 33.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,269 shares of the real estate investment trust’s stock after selling 11,176 shares during the quarter. FourThought Financial Partners LLC’s holdings in Prologis were worth $2,354,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Dunhill Financial LLC lifted its stake in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the period. Centricity Wealth Management LLC purchased a new position in Prologis during the fourth quarter valued at $30,000. Hara Capital LLC bought a new stake in shares of Prologis during the 3rd quarter valued at $48,000. Coastline Trust Co purchased a new stake in shares of Prologis in the 3rd quarter worth about $52,000. Finally, Fortitude Family Office LLC increased its stake in shares of Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 240 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on PLD. Mizuho dropped their price objective 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. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. BTIG Research reduced their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

Prologis Stock Performance

PLD stock opened at $120.71 on Tuesday. The company has a market cap of $111.88 billion, a P/E ratio of 30.18, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The stock’s fifty day moving average price is $112.80 and its 200-day moving average price is $117.98.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is currently 101.00%.

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.