Prologis, Inc. (NYSE:PLD) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 17.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 35,259 shares of the real estate investment trust’s stock after selling 7,523 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Prologis were worth $3,727,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Prologis by 534.7% during 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 valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC boosted its position in Prologis by 145.0% in the third 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 buying an additional 2,138,693 shares during the last quarter. AMF Tjanstepension AB increased its holdings in Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after buying an additional 1,365,811 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in Prologis by 547.9% during 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 buying an additional 874,411 shares during the last quarter. Finally, Cardano Risk Management B.V. acquired a new stake in Prologis during the 3rd quarter valued at approximately $109,579,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD stock opened at $118.90 on Monday. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The firm’s 50 day moving average price is $110.49 and its 200-day moving average price is $118.39. The firm has a market cap of $110.12 billion, a P/E ratio of 29.73, a P/E/G ratio of 3.19 and a beta of 1.09.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.23%. Prologis’s payout ratio is presently 96.00%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PLD. Wolfe Research reduced their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $124.00 to $123.00 in a report on Monday, January 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. JPMorgan Chase & Co. lowered their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Finally, 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 report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given 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, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.67.

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.