Janney Capital Management LLC Sells 3,044 Shares of Prologis, Inc. (NYSE:PLD)

Janney Capital Management LLC cut its holdings in Prologis, Inc. (NYSE:PLD) by 14.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,638 shares of the real estate investment trust’s stock after selling 3,044 shares during the period. Janney Capital Management LLC’s holdings in Prologis were worth $1,970,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Investment Advisory Group LLC grew its position in shares of Prologis by 2.8% in the fourth quarter. Investment Advisory Group LLC now owns 7,236 shares of the real estate investment trust’s stock valued at $765,000 after purchasing an additional 200 shares in the last quarter. Atomi Financial Group Inc. boosted its stake in Prologis by 11.3% in the 4th quarter. Atomi Financial Group Inc. now owns 5,028 shares of the real estate investment trust’s stock worth $532,000 after purchasing an additional 511 shares during the period. Segment Wealth Management LLC grew its holdings in Prologis by 4.3% during the 4th quarter. Segment Wealth Management LLC now owns 6,002 shares of the real estate investment trust’s stock valued at $634,000 after buying an additional 245 shares in the last quarter. Perpetual Ltd increased its position in shares of Prologis by 38.5% during the fourth quarter. Perpetual Ltd now owns 288,800 shares of the real estate investment trust’s stock valued at $30,526,000 after buying an additional 80,244 shares during the period. Finally, Royal Fund Management LLC purchased a new stake in shares of Prologis in the fourth quarter worth about $1,469,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

Prologis stock opened at $115.16 on Thursday. The firm has a fifty day simple moving average of $110.34 and a two-hundred day simple moving average of $118.36. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a market capitalization of $106.66 billion, a PE ratio of 34.79, a P/E/G ratio of 3.01 and a beta of 1.09.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Barclays boosted their price target 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. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, Robert W. Baird upgraded 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 note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $128.67.

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.