Park Place Capital Corp Has $545,000 Stake in Prologis, Inc. (NYSE:PLD)

Park Place Capital Corp cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 40.6% in the 4th quarter, HoldingsChannel reports. The fund owned 5,156 shares of the real estate investment trust’s stock after selling 3,519 shares during the period. Park Place Capital Corp’s holdings in Prologis were worth $545,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empirical Asset Management LLC boosted its holdings in shares of Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after buying an additional 52,963 shares during the last quarter. Sunflower Bank N.A. bought a new position in Prologis during the third quarter valued at $249,000. Cardano Risk Management B.V. increased its position in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares during the last quarter. Coronation Fund Managers Ltd. purchased a new position in shares of Prologis during the 2nd quarter valued at $878,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in Prologis by 2.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after acquiring an additional 29,400 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Down 0.3 %

Shares of PLD opened at $116.93 on Wednesday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The firm has a market cap of $108.29 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 3.01 and a beta of 1.09. The firm has a 50 day moving average price of $110.34 and a 200-day moving average price of $118.36. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.28%. Prologis’s payout ratio is 116.01%.

Analysts Set New Price Targets

Several equities research analysts have commented on PLD shares. Mizuho dropped their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Raymond James reiterated an “outperform” rating and issued a $125.00 price objective (down from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Barclays lifted their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.67.

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.