Hartford Financial Management Inc. Sells 147 Shares of Prologis, Inc. (NYSE:PLD)

Hartford Financial Management Inc. cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,080 shares of the real estate investment trust’s stock after selling 147 shares during the period. Hartford Financial Management Inc.’s holdings in Prologis were worth $1,805,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Sunbelt Securities Inc. boosted its stake in 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 buying an additional 224 shares during the period. Dunhill Financial LLC lifted its holdings in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the last quarter. Hara Capital LLC purchased a new position in Prologis in the third quarter worth $48,000. Coastline Trust Co bought a new position in shares of Prologis during the 3rd quarter valued at about $52,000. Finally, Fortitude Family Office LLC grew its position in Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 240 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PLD shares. BTIG Research decreased their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Raymond James reiterated 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. Wolfe Research dropped their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Trading Up 1.3 %

Shares of NYSE PLD opened at $120.66 on Friday. The firm’s 50 day moving average price is $110.83 and its 200-day moving average price is $118.42. Prologis, Inc. has a 52-week low of $100.82 and a 52-week 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 company has a market cap of $111.75 billion, a PE ratio of 30.17, a P/E/G ratio of 3.19 and a beta of 1.09.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.18%. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

Prologis Company 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.