McGlone Suttner Wealth Management Inc. Decreases Stake in Prologis, Inc. (NYSE:PLD)

McGlone Suttner Wealth Management Inc. decreased its holdings in Prologis, Inc. (NYSE:PLD) by 51.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,609 shares of the real estate investment trust’s stock after selling 2,814 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Prologis were worth $276,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sunbelt Securities Inc. increased its holdings in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares in the last quarter. Dunhill Financial LLC grew its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the period. Hara Capital LLC purchased a new position in Prologis in the third quarter valued at about $48,000. Coastline Trust Co acquired a new stake in shares of Prologis during the 3rd quarter valued at approximately $52,000. Finally, Fortitude Family Office LLC boosted its stake in shares of Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 240 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of several research reports. Mizuho reduced 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. Wolfe Research reduced 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. JPMorgan Chase & Co. cut their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Scotiabank dropped their price target on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research report on Wednesday, December 4th. Finally, Robert W. Baird raised Prologis from a “neutral” rating to an “outperform” rating and cut their price target for the stock from $124.00 to $123.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.67.

Prologis Trading Up 2.8 %

Shares of PLD opened at $118.38 on Friday. The stock’s fifty day simple moving average is $110.31 and its 200 day simple moving average is $118.33. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $109.64 billion, a P/E ratio of 29.59, a price-to-earnings-growth ratio of 3.25 and a beta of 1.09.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 96.00%.

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.