Prudent Man Advisors LLC Cuts Stake in Prologis, Inc. (NYSE:PLD)

Prudent Man Advisors LLC lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,393 shares of the real estate investment trust’s stock after selling 2,281 shares during the quarter. Prologis makes up approximately 0.7% of Prudent Man Advisors LLC’s portfolio, making the stock its 22nd biggest position. Prudent Man Advisors LLC’s holdings in Prologis were worth $1,944,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dunhill Financial LLC boosted its stake in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Prologis during the fourth quarter valued at approximately $30,000. Whipplewood Advisors LLC bought a new position in shares of Prologis during the fourth quarter valued at approximately $34,000. Hara Capital LLC bought a new position in shares of Prologis during the third quarter valued at approximately $48,000. Finally, Coastline Trust Co bought a new position in shares of Prologis during the third quarter valued at approximately $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLD. Scotiabank decreased their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Wolfe Research lowered their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Truist Financial raised their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, BTIG Research lowered their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Up 0.9 %

Shares of PLD opened at $123.88 on Friday. The stock has a market capitalization of $114.82 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The business’s 50 day simple moving average is $114.28 and its 200-day simple moving average is $118.08. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.26%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is presently 101.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.

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.