Gilman Hill Asset Management LLC Trims Stake in Prologis, Inc. (NYSE:PLD)

Gilman Hill Asset Management LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 20.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,625 shares of the real estate investment trust’s stock after selling 1,160 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Prologis were worth $489,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC lifted its position in Prologis by 145.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after acquiring an additional 2,138,693 shares in the last quarter. AMF Tjanstepension AB boosted its stake in Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Prologis by 547.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,034,000 shares of the real estate investment trust’s stock worth $116,129,000 after purchasing an additional 874,411 shares in the last quarter. Finally, Cardano Risk Management B.V. bought a new position in shares of Prologis during the third quarter valued at $109,579,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PLD. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $124.00 to $123.00 in a research report on Monday, January 6th. Barclays increased their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Scotiabank cut their target price on shares of Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. Truist Financial lowered their price target on Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a report on Friday. Finally, Raymond James reaffirmed an “outperform” rating and issued a $125.00 price objective (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.67.

Prologis Stock Down 1.3 %

NYSE PLD opened at $109.51 on Tuesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The stock’s 50 day moving average is $110.34 and its 200 day moving average is $118.36. The stock has a market cap of $101.43 billion, a PE ratio of 33.09, a P/E/G ratio of 2.85 and a beta of 1.09.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.51%. 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.