Summit Trail Advisors LLC Trims Position in Prologis, Inc. (NYSE:PLD)

Summit Trail Advisors LLC cut its position in Prologis, Inc. (NYSE:PLD) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,371 shares of the real estate investment trust’s stock after selling 1,073 shares during the period. Summit Trail Advisors LLC’s holdings in Prologis were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLD. AMF Tjanstepension AB increased its stake in shares of Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after purchasing an additional 1,365,811 shares in the last quarter. CWM LLC increased its stake in shares of Prologis by 6.6% in the third quarter. CWM LLC now owns 20,255 shares of the real estate investment trust’s stock worth $2,558,000 after purchasing an additional 1,257 shares in the last quarter. Carnegie Investment Counsel boosted its position in shares of Prologis by 1.4% during the third quarter. Carnegie Investment Counsel now owns 18,747 shares of the real estate investment trust’s stock worth $2,367,000 after acquiring an additional 262 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Prologis by 29.6% during the third quarter. Exchange Traded Concepts LLC now owns 6,229 shares of the real estate investment trust’s stock worth $787,000 after acquiring an additional 1,424 shares during the last quarter. Finally, Gilman Hill Asset Management LLC boosted its position in shares of Prologis by 15.2% during the third quarter. Gilman Hill Asset Management LLC now owns 5,785 shares of the real estate investment trust’s stock worth $731,000 after acquiring an additional 765 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Up 1.7 %

PLD stock opened at $119.40 on Tuesday. The company has a market capitalization of $110.58 billion, a PE ratio of 29.85, a P/E/G ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The firm’s 50-day moving average is $111.11 and its 200 day moving average is $118.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43.

Prologis Dividend Announcement

The business 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. This represents a $3.84 annualized dividend and a yield of 3.22%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is presently 96.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research reports. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Truist Financial increased their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Royal Bank of Canada increased their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Finally, 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $128.78.

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.