Capital Asset Advisory Services LLC Sells 111 Shares of Prologis, Inc. (NYSE:PLD)

Capital Asset Advisory Services LLC trimmed its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,084 shares of the real estate investment trust’s stock after selling 111 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Prologis were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Optimum Investment Advisors bought a new position in shares of Prologis during the first quarter worth about $26,000. True Wealth Design LLC bought a new position in shares of Prologis during the fourth quarter worth about $27,000. Thompson Investment Management Inc. bought a new position in shares of Prologis during the fourth quarter worth about $28,000. JFS Wealth Advisors LLC raised its position in shares of Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 168 shares during the last quarter. Finally, Clear Investment Research LLC raised its position in shares of Prologis by 188.1% during the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 158 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on PLD. UBS Group decreased their target price on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. JPMorgan Chase & Co. decreased their target price on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Scotiabank decreased their target price on Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. StockNews.com cut Prologis from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Finally, Royal Bank of Canada decreased their target price on Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.76.

Prologis Stock Up 0.9 %

Shares of NYSE:PLD traded up $0.99 during mid-day trading on Friday, hitting $112.34. 5,436,334 shares of the company traded hands, compared to its average volume of 3,765,638. The stock has a market cap of $104.01 billion, a P/E ratio of 32.85, a P/E/G ratio of 2.46 and a beta of 1.07. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The stock has a 50-day moving average price of $108.14 and a two-hundred day moving average price of $121.83.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a dividend of $0.96 per share. The ex-dividend date is Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.42%. Prologis’s payout ratio is 112.28%.

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.