Ferguson Wellman Capital Management Inc. Reduces Stock Holdings in Prologis, Inc. (NYSE:PLD)

Ferguson Wellman Capital Management Inc. decreased its stake in Prologis, Inc. (NYSE:PLD) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,409 shares of the real estate investment trust’s stock after selling 135 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Prologis were worth $255,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dunhill Financial LLC boosted its holdings in shares of Prologis by 239.5% in 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 purchased a new position in shares of Prologis in the 3rd quarter worth approximately $48,000. Coastline Trust Co purchased a new position in Prologis during the 3rd quarter valued at $52,000. Fortitude Family Office LLC boosted its holdings 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 valued at $55,000 after acquiring an additional 240 shares during the period. Finally, Reston Wealth Management LLC purchased a new position in Prologis during the 3rd quarter valued at $70,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PLD. Mizuho dropped their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. JPMorgan Chase & Co. dropped their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. UBS Group boosted their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Wolfe Research dropped their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One 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 given a strong buy rating to the stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Trading Up 1.7 %

PLD 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. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The stock has a fifty day moving average price of $111.11 and a 200-day moving average price of $118.15.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 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.