Veracity Capital LLC Lowers Position in Prologis, Inc. (NYSE:PLD)

Veracity Capital LLC decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,253 shares of the real estate investment trust’s stock after selling 208 shares during the quarter. Veracity Capital LLC’s holdings in Prologis were worth $238,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Coronation Fund Managers Ltd. purchased a new position in Prologis in the 2nd quarter worth approximately $878,000. Gabelli Funds LLC grew its position in Prologis by 3.6% in the second quarter. Gabelli Funds LLC now owns 3,205 shares of the real estate investment trust’s stock worth $360,000 after acquiring an additional 110 shares in the last quarter. Marshall Wace LLP purchased a new position in Prologis in the second quarter worth $12,946,000. Fred Alger Management LLC increased its stake in Prologis by 5.5% in the second quarter. Fred Alger Management LLC now owns 24,814 shares of the real estate investment trust’s stock valued at $2,787,000 after acquiring an additional 1,297 shares during the last quarter. Finally, MBB Public Markets I LLC raised its position in Prologis by 1,903.9% during the second quarter. MBB Public Markets I LLC now owns 65,466 shares of the real estate investment trust’s stock valued at $7,352,000 after purchasing an additional 62,199 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $124.00 to $123.00 in a research report on Monday, January 6th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. 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 report on Monday, October 21st. Finally, JPMorgan Chase & Co. dropped their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued 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 has a consensus rating of “Moderate Buy” and an average price target of $128.67.

Prologis Stock Up 0.3 %

PLD stock opened at $118.90 on Friday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a market capitalization of $110.12 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. The business’s 50 day moving average price is $110.38 and its two-hundred day moving average price is $118.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.23%. Prologis’s payout ratio is 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.