Csenge Advisory Group Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Csenge Advisory Group trimmed its position in Prologis, Inc. (NYSE:PLD) by 24.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,955 shares of the real estate investment trust’s stock after selling 3,201 shares during the quarter. Csenge Advisory Group’s holdings in Prologis were worth $1,052,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PLD. AMF Tjanstepension AB boosted its holdings in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Creative Planning boosted its holdings in Prologis by 18.3% in the third quarter. Creative Planning now owns 100,154 shares of the real estate investment trust’s stock valued at $12,647,000 after acquiring an additional 15,510 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in Prologis in the third quarter valued at $234,000. New Century Financial Group LLC boosted its holdings in Prologis by 3.3% in the third quarter. New Century Financial Group LLC now owns 4,338 shares of the real estate investment trust’s stock valued at $548,000 after acquiring an additional 138 shares in the last quarter. Finally, Werba Rubin Papier Wealth Management bought a new stake in Prologis in the third quarter valued at $204,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was 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 of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.

Prologis Price Performance

Shares of NYSE:PLD opened at $120.84 on Tuesday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The business has a 50-day simple moving average of $111.71 and a two-hundred day simple moving average of $118.03. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The firm has a market cap of $111.92 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10.

Prologis Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently weighed in on PLD. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Truist Financial boosted their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Scotiabank dropped their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Finally, Barclays boosted their target price on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

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.