Hixon Zuercher LLC Has $1.62 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Hixon Zuercher LLC reduced its position in Prologis, Inc. (NYSE:PLD) by 15.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,280 shares of the real estate investment trust’s stock after selling 2,702 shares during the period. Hixon Zuercher LLC’s holdings in Prologis were worth $1,615,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PLD. Sunbelt Securities Inc. lifted its holdings in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 224 shares during the period. Dunhill Financial LLC boosted its stake in 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 bought a new stake in shares of Prologis during the third quarter valued at about $48,000. Coastline Trust Co bought a new position in shares of Prologis in the third quarter valued at approximately $52,000. Finally, Fortitude Family Office LLC boosted its holdings in Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. BTIG Research reduced their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Scotiabank lowered their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday. Wolfe Research cut their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Truist Financial increased their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Barclays lifted their target price on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Performance

Shares of Prologis stock opened at $120.66 on Friday. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The business has a 50-day simple moving average of $110.83 and a 200-day simple moving average of $118.42. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The company has a market cap of $111.75 billion, a PE ratio of 30.17, a P/E/G ratio of 3.19 and a beta of 1.09.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.18%. Prologis’s dividend payout ratio (DPR) 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.