Prologis, Inc. (NYSE:PLD) Shares Sold by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC lessened its stake in Prologis, Inc. (NYSE:PLD) by 17.0% during the first quarter, Holdings Channel reports. The firm owned 2,297 shares of the real estate investment trust’s stock after selling 469 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Prologis were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Family Legacy Inc. increased its holdings in Prologis by 0.5% in the 4th quarter. Family Legacy Inc. now owns 16,634 shares of the real estate investment trust’s stock valued at $2,217,000 after purchasing an additional 87 shares in the last quarter. Lockerman Financial Group Inc. increased its position in shares of Prologis by 2.0% during the fourth quarter. Lockerman Financial Group Inc. now owns 4,402 shares of the real estate investment trust’s stock worth $587,000 after acquiring an additional 87 shares during the last quarter. Hixon Zuercher LLC grew its position in shares of Prologis by 0.6% during the fourth quarter. Hixon Zuercher LLC now owns 14,631 shares of the real estate investment trust’s stock worth $1,950,000 after buying an additional 88 shares in the last quarter. AdvisorNet Financial Inc increased its stake in shares of Prologis by 11.0% in the fourth quarter. AdvisorNet Financial Inc now owns 911 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 90 shares during the last quarter. Finally, CVA Family Office LLC increased its stake in shares of Prologis by 21.4% in the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the subject of several recent analyst reports. Robert W. Baird decreased their price objective on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Mizuho cut their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. StockNews.com lowered Prologis from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Royal Bank of Canada dropped their price target on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Finally, Scotiabank decreased their price objective on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $129.94.

Prologis Price Performance

Shares of NYSE:PLD traded up $0.71 during trading on Monday, reaching $120.86. The company had a trading volume of 1,260,508 shares, compared to its average volume of 3,677,935. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $111.90 billion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The firm’s fifty day moving average is $110.40 and its 200 day moving average is $120.51.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Monday, June 17th. Prologis’s payout ratio is currently 112.28%.

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.