Verdence Capital Advisors LLC Sells 1,080 Shares of Prologis, Inc. (NYSE:PLD)

Verdence Capital Advisors LLC decreased its stake in Prologis, Inc. (NYSE:PLD) by 31.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,364 shares of the real estate investment trust’s stock after selling 1,080 shares during the period. Verdence Capital Advisors LLC’s holdings in Prologis were worth $315,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. CNB Bank grew its holdings in shares of Prologis by 2.1% in the 4th quarter. CNB Bank now owns 5,856 shares of the real estate investment trust’s stock valued at $781,000 after acquiring an additional 119 shares in the last quarter. HTLF Bank bought a new position in Prologis during the fourth quarter worth about $2,776,000. Colton Groome Financial Advisors LLC grew its holdings in Prologis by 23.2% during the fourth quarter. Colton Groome Financial Advisors LLC now owns 10,910 shares of the real estate investment trust’s stock worth $1,454,000 after purchasing an additional 2,055 shares during the period. Fidelis Capital Partners LLC grew its holdings in Prologis by 38.3% during the fourth quarter. Fidelis Capital Partners LLC now owns 8,290 shares of the real estate investment trust’s stock worth $1,105,000 after purchasing an additional 2,297 shares during the period. Finally, Western Wealth Management LLC grew its holdings in Prologis by 5.9% during the fourth quarter. Western Wealth Management LLC now owns 14,478 shares of the real estate investment trust’s stock worth $1,930,000 after purchasing an additional 803 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.7 %

NYSE PLD opened at $104.86 on Wednesday. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a 50 day moving average of $126.79 and a 200-day moving average of $122.16. The company has a market cap of $97.00 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 2.08 and a beta of 1.00.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.66%. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. Prologis’s payout ratio is presently 112.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on Prologis from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. The Goldman Sachs Group reduced their price target on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a report on Monday. Robert W. Baird lifted their price target on Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. Finally, Raymond James boosted their price objective on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $135.41.

About Prologis

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.