Quotient Wealth Partners LLC Sells 606 Shares of Prologis, Inc. (NYSE:PLD)

Quotient Wealth Partners LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 21.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,259 shares of the real estate investment trust’s stock after selling 606 shares during the period. Quotient Wealth Partners LLC’s holdings in Prologis were worth $239,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Empowered Funds LLC boosted its position in shares of Prologis by 14.5% in the fourth quarter. Empowered Funds LLC now owns 39,797 shares of the real estate investment trust’s stock worth $4,207,000 after purchasing an additional 5,042 shares during the period. Forbes J M & Co. LLP boosted its holdings in Prologis by 0.4% in the 4th quarter. Forbes J M & Co. LLP now owns 58,080 shares of the real estate investment trust’s stock worth $6,139,000 after buying an additional 213 shares during the period. Wilmington Savings Fund Society FSB increased its stake in Prologis by 34.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 14,341 shares of the real estate investment trust’s stock worth $1,516,000 after buying an additional 3,667 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in Prologis by 2.1% during the fourth quarter. Apollon Wealth Management LLC now owns 18,152 shares of the real estate investment trust’s stock valued at $1,919,000 after acquiring an additional 380 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in shares of Prologis in the fourth quarter valued at about $100,000. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PLD. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Scotiabank dropped their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, UBS Group raised their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued 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 $128.78.

Prologis Stock Performance

PLD stock opened at $119.40 on Tuesday. The firm has a market cap of $110.58 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $111.11 and its two-hundred day simple moving average is $118.15.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 3.22%. Prologis’s dividend payout ratio (DPR) is 96.00%.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

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.