Hixon Zuercher LLC Trims Holdings in Prologis, Inc. (NYSE:PLD)

Hixon Zuercher LLC lessened its stake in Prologis, Inc. (NYSE:PLD) by 15.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,280 shares of the real estate investment trust’s stock after selling 2,702 shares during the quarter. Hixon Zuercher LLC’s holdings in Prologis were worth $1,615,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Coronation Fund Managers Ltd. bought a new position in shares of Prologis during the second quarter valued at approximately $878,000. Northwestern Mutual Wealth Management Co. grew its holdings in Prologis by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 56,554 shares of the real estate investment trust’s stock worth $6,352,000 after acquiring an additional 749 shares during the period. Sunbelt Securities Inc. lifted its stake in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the last quarter. Cetera Investment Advisers grew its position in Prologis by 6.9% in the second quarter. Cetera Investment Advisers now owns 170,278 shares of the real estate investment trust’s stock worth $19,124,000 after buying an additional 10,967 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Prologis during the 2nd quarter worth $17,468,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented 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. Raymond James reaffirmed an “outperform” rating and issued a $125.00 target price (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Finally, UBS Group lifted their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Up 1.3 %

NYSE PLD opened at $120.66 on Friday. The company has a market cap of $111.75 billion, a price-to-earnings ratio of 30.17, 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. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $110.83 and a 200-day moving average of $118.42.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is currently 96.00%.

About Prologis

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.