Summit Trail Advisors LLC Cuts Stock Position in Prologis, Inc. (NYSE:PLD)

Summit Trail Advisors LLC lowered its position in Prologis, Inc. (NYSE:PLD) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,371 shares of the real estate investment trust’s stock after selling 1,073 shares during the period. Summit Trail Advisors LLC’s holdings in Prologis were worth $1,202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLD. AMF Tjanstepension AB grew its position in shares of Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after buying an additional 1,365,811 shares during the last quarter. CWM LLC boosted its stake in Prologis by 6.6% in the 3rd quarter. CWM LLC now owns 20,255 shares of the real estate investment trust’s stock worth $2,558,000 after purchasing an additional 1,257 shares in the last quarter. Carnegie Investment Counsel boosted its stake in Prologis by 1.4% in the 3rd quarter. Carnegie Investment Counsel now owns 18,747 shares of the real estate investment trust’s stock worth $2,367,000 after purchasing an additional 262 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Prologis by 29.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,229 shares of the real estate investment trust’s stock worth $787,000 after purchasing an additional 1,424 shares in the last quarter. Finally, Gilman Hill Asset Management LLC boosted its stake in Prologis by 15.2% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 5,785 shares of the real estate investment trust’s stock worth $731,000 after purchasing an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $119.40 on Tuesday. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The firm has a market capitalization of $110.58 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.64 and a beta of 1.10. The company has a fifty day simple moving average of $111.11 and a 200-day simple moving average of $118.15. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is 96.00%.

Wall Street Analyst Weigh In

Several brokerages have commented on PLD. Truist Financial lifted their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Wolfe Research cut 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. Finally, Mizuho cut their target price 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. 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 issued a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

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.