Montecito Bank & Trust Reduces Holdings in Prologis, Inc. (NYSE:PLD)

Montecito Bank & Trust trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 3.7% in the 1st quarter, Holdings Channel reports. The firm owned 5,978 shares of the real estate investment trust’s stock after selling 229 shares during the period. Montecito Bank & Trust’s holdings in Prologis were worth $778,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PLD. Columbia Trust Co 01012016 grew its holdings in Prologis by 16.0% in the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock valued at $698,000 after buying an additional 723 shares in the last quarter. Janney Capital Management LLC grew its holdings in Prologis by 18.8% in the 4th quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust’s stock valued at $3,182,000 after buying an additional 3,773 shares in the last quarter. Cyndeo Wealth Partners LLC grew its holdings in Prologis by 39.4% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after buying an additional 11,882 shares in the last quarter. Atalanta Sosnoff Capital LLC purchased a new position in shares of Prologis during the 4th quarter worth $18,551,000. Finally, DNB Asset Management AS grew its holdings in shares of Prologis by 17.1% during the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after purchasing an additional 42,073 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

PLD stock opened at $109.13 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $101.04 billion, a P/E ratio of 31.91, a P/E/G ratio of 2.45 and a beta of 1.07. The business’s 50-day moving average is $108.12 and its two-hundred day moving average is $122.20. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Monday, June 17th. Prologis’s dividend payout ratio is currently 112.28%.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research analyst reports. UBS Group lowered their price target on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Evercore ISI lowered their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday, April 18th. Robert W. Baird lowered their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their price target on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, BMO Capital Markets cut Prologis from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $145.00 to $112.00 in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.76.

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.