Hartford Investment Management Co. Sells 1,012 Shares of Prologis, Inc. (NYSE:PLD)

Hartford Investment Management Co. decreased its position in Prologis, Inc. (NYSE:PLD) by 1.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 57,210 shares of the real estate investment trust’s stock after selling 1,012 shares during the period. Hartford Investment Management Co.’s holdings in Prologis were worth $6,047,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dunhill Financial LLC grew its holdings in shares of Prologis by 239.5% in the third 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 last quarter. Hara Capital LLC purchased a new stake in Prologis in the third quarter worth $48,000. Coastline Trust Co purchased a new stake in Prologis in the third quarter worth $52,000. Fortitude Family Office LLC lifted its stake in Prologis by 120.6% in the third 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 during the period. Finally, Hanson & Doremus Investment Management lifted its stake in Prologis by 42.2% in the fourth quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 185 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PLD shares. JPMorgan Chase & Co. dropped their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Barclays raised their price objective on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Finally, Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Price Performance

NYSE PLD opened at $121.76 on Wednesday. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The stock has a 50-day moving average of $111.19 and a 200 day moving average of $118.14. The company has a market capitalization of $112.77 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 2.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued 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 3.15%. Prologis’s payout ratio is 96.00%.

Prologis 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.