Yousif Capital Management LLC Sells 3,716 Shares of Prologis, Inc. (NYSE:PLD)

Yousif Capital Management LLC cut its position in shares of Prologis, Inc. (NYSE:PLD) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 159,981 shares of the real estate investment trust’s stock after selling 3,716 shares during the period. Yousif Capital Management LLC’s holdings in Prologis were worth $21,325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Columbia Trust Co 01012016 lifted its stake in Prologis by 16.0% in the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after acquiring an additional 723 shares during the period. Cyndeo Wealth Partners LLC boosted its stake in shares of Prologis by 39.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after purchasing an additional 11,882 shares in the last quarter. DNB Asset Management AS increased its holdings in Prologis by 17.1% during the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after buying an additional 42,073 shares during the period. Grassi Investment Management increased its holdings in Prologis by 31.8% during the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after buying an additional 60,900 shares during the period. Finally, Desjardins Global Asset Management Inc. raised its stake in Prologis by 255.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after buying an additional 11,582 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

NYSE PLD traded up $0.78 on Tuesday, hitting $104.86. 4,231,958 shares of the company’s stock traded hands, compared to its average volume of 3,454,940. The firm’s 50-day moving average price is $126.79 and its two-hundred day moving average price is $122.16. The firm has a market capitalization of $97.00 billion, a PE ratio of 30.66, a P/E/G ratio of 2.08 and a beta of 1.00. 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.

Prologis Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on PLD. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Robert W. Baird boosted their target price on shares of Prologis from $133.00 to $137.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. BMO Capital Markets cut shares of Prologis from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $145.00 to $112.00 in a report on Monday. Mizuho reiterated a “neutral” rating and set a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. Finally, Raymond James increased their target price on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $135.41.

Prologis Company Profile

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.