Everhart Financial Group Inc. Cuts Holdings in Prologis, Inc. (NYSE:PLD)

Everhart Financial Group Inc. trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 14.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,716 shares of the real estate investment trust’s stock after selling 811 shares during the quarter. Everhart Financial Group Inc.’s holdings in Prologis were worth $499,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Dunhill Financial LLC grew its holdings in 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 position in Prologis in the third quarter worth $48,000. Coastline Trust Co purchased a new position in Prologis in the third quarter worth $52,000. Asset Planning Inc purchased a new position in Prologis in the fourth quarter worth $53,000. Finally, Fortitude Family Office LLC grew its holdings 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 purchasing an additional 240 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the topic of several analyst reports. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Robert W. Baird lifted their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. 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. BTIG Research dropped their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average target price of $128.78.

Insiders Place Their Bets

In other Prologis 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 value of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Prologis Trading Down 0.0 %

NYSE PLD opened at $120.84 on Monday. The company has a market capitalization of $111.92 billion, a PE ratio of 30.21, a P/E/G ratio of 2.64 and a beta of 1.10. The company has a fifty day moving average of $111.71 and a 200 day moving average of $118.09. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.18%. Prologis’s dividend payout ratio (DPR) is currently 96.00%.

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.