Hartford Financial Management Inc. Sells 147 Shares of Prologis, Inc. (NYSE:PLD)

Hartford Financial Management Inc. lessened its stake in Prologis, Inc. (NYSE:PLD) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 17,080 shares of the real estate investment trust’s stock after selling 147 shares during the period. Hartford Financial Management Inc.’s holdings in Prologis were worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sunbelt Securities Inc. grew its holdings in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares during the period. Dunhill Financial LLC boosted its holdings in shares of 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 buying an additional 182 shares during the last quarter. Hara Capital LLC purchased a new position in shares of Prologis during the 3rd quarter worth $48,000. Coastline Trust Co bought a new stake in shares of Prologis during the 3rd quarter valued at $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 purchasing an additional 240 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. UBS Group lifted their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday. Wolfe Research cut their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Royal Bank of Canada raised their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday. Finally, Mizuho dropped their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. 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 two have given a strong buy rating to the company. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

Prologis stock opened at $120.66 on Friday. The company’s 50-day moving average price is $110.83 and its 200-day moving average price is $118.42. 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 cap of $111.75 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. 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 3.18%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

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.