KMG Fiduciary Partners LLC Decreases Stock Position in Prologis, Inc. (NYSE:PLD)

KMG Fiduciary Partners LLC lessened its position in Prologis, Inc. (NYSE:PLD) by 15.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,799 shares of the real estate investment trust’s stock after selling 329 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Prologis were worth $234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wedmont Private Capital lifted its position in shares of Prologis by 9.6% in the first quarter. Wedmont Private Capital now owns 5,432 shares of the real estate investment trust’s stock valued at $686,000 after acquiring an additional 476 shares in the last quarter. Czech National Bank lifted its position in shares of Prologis by 0.4% in the first quarter. Czech National Bank now owns 162,576 shares of the real estate investment trust’s stock valued at $21,171,000 after acquiring an additional 721 shares in the last quarter. Perpetual Ltd lifted its position in shares of Prologis by 2.2% in the first quarter. Perpetual Ltd now owns 66,075 shares of the real estate investment trust’s stock valued at $8,604,000 after acquiring an additional 1,443 shares in the last quarter. Green Alpha Advisors LLC lifted its position in shares of Prologis by 1.5% in the first quarter. Green Alpha Advisors LLC now owns 10,554 shares of the real estate investment trust’s stock valued at $1,374,000 after acquiring an additional 153 shares in the last quarter. Finally, Stableford Capital II LLC lifted its position in shares of Prologis by 54.8% in the first quarter. Stableford Capital II LLC now owns 11,587 shares of the real estate investment trust’s stock valued at $1,509,000 after acquiring an additional 4,104 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Robert W. Baird decreased their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. BMO Capital Markets cut Prologis from an “outperform” rating to a “market perform” rating and cut their price target for the company from $145.00 to $112.00 in a report on Monday, April 22nd. Argus cut their price target on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. UBS Group cut 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. Finally, JPMorgan Chase & Co. cut 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $129.76.

Prologis Price Performance

PLD stock opened at $109.40 on Friday. The business has a fifty day moving average of $107.93 and a two-hundred day moving average of $122.13. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. The stock has a market cap of $101.29 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 2.45 and a beta of 1.07. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.51%. Prologis’s dividend payout ratio is currently 112.28%.

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.