Hsbc Holdings PLC cut its position in Prologis, Inc. (NYSE:PLD – Get Rating) by 17.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,489,613 shares of the real estate investment trust’s stock after selling 307,413 shares during the quarter. Hsbc Holdings PLC owned about 0.20% of Prologis worth $243,194,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. American National Bank bought a new stake in shares of Prologis during the 1st quarter worth about $26,000. William Allan LLC bought a new stake in shares of Prologis during the 4th quarter worth about $27,000. M&R Capital Management Inc. raised its position in shares of Prologis by 245.1% during the 1st quarter. M&R Capital Management Inc. now owns 176 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 125 shares in the last quarter. MCF Advisors LLC bought a new stake in shares of Prologis during the 1st quarter worth about $35,000. Finally, Financial Management Professionals Inc. raised its position in shares of Prologis by 43.8% during the 1st quarter. Financial Management Professionals Inc. now owns 220 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 67 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors.
Prologis Stock Performance
PLD stock opened at $129.63 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market cap of $95.98 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.72 and a beta of 0.88. The firm has a 50 day simple moving average of $127.81 and a 200 day simple moving average of $137.30. Prologis, Inc. has a 52 week low of $106.46 and a 52 week high of $174.54.
Prologis Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Wednesday, September 14th. Prologis’s dividend payout ratio is currently 63.20%.
Analyst Upgrades and Downgrades
PLD has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of Prologis from $174.00 to $146.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. Truist Financial lowered their price objective on shares of Prologis from $166.00 to $162.00 and set a “na” rating on the stock in a research note on Monday, May 16th. Barclays lowered their price objective on shares of Prologis from $190.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, July 21st. Raymond James lowered their price objective on shares of Prologis from $190.00 to $160.00 in a research note on Thursday, July 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Prologis from $160.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Buy” and an average target price of $173.38.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.
- Get a free copy of the StockNews.com research report on Prologis (PLD)
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