Van ECK Associates Corp Decreases Stake in Prologis, Inc. (NYSE:PLD)

Van ECK Associates Corp lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 0.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 450,828 shares of the real estate investment trust’s stock after selling 408 shares during the quarter. Van ECK Associates Corp’s holdings in Prologis were worth $47,652,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Dunhill Financial LLC grew 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 purchasing an additional 182 shares during the period. Hara Capital LLC acquired a new position in Prologis during the 3rd quarter worth approximately $48,000. Coastline Trust Co acquired a new position in Prologis during the 3rd quarter worth approximately $52,000. Fortitude Family Office LLC lifted its position in Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 240 shares in the last quarter. Finally, Reston Wealth Management LLC acquired a new position in Prologis during the 3rd quarter worth approximately $70,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Scotiabank reduced their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Wolfe Research reduced their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

Shares of NYSE PLD opened at $121.07 on Friday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The firm has a market capitalization of $112.13 billion, a PE ratio of 30.27, a P/E/G ratio of 2.64 and a beta of 1.10. The business’s fifty day moving average price is $111.39 and its two-hundred day moving average price 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 company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.17%. Prologis’s dividend payout ratio is currently 96.00%.

Prologis 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.