Arkadios Wealth Advisors Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Arkadios Wealth Advisors trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,879 shares of the real estate investment trust’s stock after selling 1,316 shares during the quarter. Arkadios Wealth Advisors’ holdings in Prologis were worth $1,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Semmax Financial Advisors Inc. bought a new stake in Prologis in the 2nd quarter worth about $27,000. Dunhill Financial LLC grew 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 valued at $33,000 after acquiring an additional 182 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of 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 acquiring an additional 224 shares during the last quarter. Hara Capital LLC bought a new stake in Prologis during the third quarter worth $48,000. Finally, Coastline Trust Co purchased a new position in Prologis in the third quarter worth $52,000. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PLD. Scotiabank cut their price target on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a report on Wednesday, December 4th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Truist Financial lowered their price target on shares of Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a report on Friday. Barclays increased their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $128.67.

Prologis Stock Down 1.3 %

Shares of NYSE:PLD opened at $109.51 on Monday. The firm has a fifty day moving average price of $110.34 and a two-hundred day moving average price of $118.33. The company has a market cap of $101.43 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.51%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 116.01%.

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.