Mogy Joel R Investment Counsel Inc. Lowers Stock Holdings in Prologis, Inc. (NYSE:PLD)

Mogy Joel R Investment Counsel Inc. trimmed its position in Prologis, Inc. (NYSE:PLD) by 6.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 75,381 shares of the real estate investment trust’s stock after selling 5,488 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Prologis were worth $10,048,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Columbia Trust Co 01012016 raised its stake in Prologis by 16.0% in the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after purchasing an additional 723 shares in the last quarter. Cyndeo Wealth Partners LLC raised its stake in Prologis by 39.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after purchasing an additional 11,882 shares in the last quarter. DNB Asset Management AS raised its stake in Prologis by 17.1% in the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after purchasing an additional 42,073 shares in the last quarter. Grassi Investment Management raised its stake in Prologis by 31.8% in the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after purchasing an additional 60,900 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. raised its stake in Prologis by 255.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock valued at $2,149,000 after purchasing an additional 11,582 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PLD. UBS Group lowered their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. BMO Capital Markets downgraded shares of Prologis from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $145.00 to $112.00 in a research note on Monday, April 22nd. Raymond James lifted their price target on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Finally, Argus decreased their price target on shares of Prologis from $139.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.24.

Prologis Trading Up 0.7 %

Shares of Prologis stock traded up $0.71 on Friday, hitting $104.06. The stock had a trading volume of 4,037,744 shares, compared to its average volume of 4,340,292. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The stock has a market cap of $96.26 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 2.15 and a beta of 1.00. The stock’s 50-day simple moving average is $125.06 and its two-hundred day simple moving average is $121.86.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a $0.96 dividend. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.69%. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is 112.28%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.