ZRC Wealth Management LLC Sells 1,249 Shares of Prologis, Inc. (NYSE:PLD)

ZRC Wealth Management LLC reduced its position in Prologis, Inc. (NYSE:PLD) by 18.7% in the 1st quarter, Holdings Channel reports. The firm owned 5,415 shares of the real estate investment trust’s stock after selling 1,249 shares during the quarter. ZRC Wealth Management LLC’s holdings in Prologis were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. RBA Wealth Management LLC grew its stake in shares of Prologis by 1.2% in the 1st quarter. RBA Wealth Management LLC now owns 33,474 shares of the real estate investment trust’s stock valued at $4,359,000 after purchasing an additional 412 shares during the period. Legacy Wealth Asset Management LLC raised its stake in Prologis by 2.9% during the first quarter. Legacy Wealth Asset Management LLC now owns 7,167 shares of the real estate investment trust’s stock worth $933,000 after acquiring an additional 204 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Prologis by 19.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 24,339 shares of the real estate investment trust’s stock worth $3,169,000 after purchasing an additional 4,035 shares during the last quarter. Advisor Resource Council acquired a new stake in Prologis during the 1st quarter valued at $442,000. Finally, Mainsail Financial Group LLC raised its holdings in shares of Prologis by 1.7% in the first quarter. Mainsail Financial Group LLC now owns 6,223 shares of the real estate investment trust’s stock valued at $810,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock traded up $0.09 on Thursday, hitting $113.30. The stock had a trading volume of 1,339,492 shares, compared to its average volume of 3,843,346. The stock has a market cap of $104.90 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 2.52 and a beta of 1.06. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The business’s 50 day moving average is $108.66 and its two-hundred day moving average is $121.39.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s dividend payout ratio is 112.28%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Mizuho lowered their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. UBS Group cut their price target on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. The Goldman Sachs Group reduced their price target on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. JPMorgan Chase & Co. dropped their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, StockNews.com cut Prologis from a “hold” rating to a “sell” rating in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $129.76.

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.