Cedar Wealth Management LLC Sells 162 Shares of Prologis, Inc. (NYSE:PLD)

Cedar Wealth Management LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,867 shares of the real estate investment trust’s stock after selling 162 shares during the quarter. Cedar Wealth Management LLC’s holdings in Prologis were worth $197,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PLD. Principle Wealth Partners LLC increased its position in Prologis by 2.9% during the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock worth $349,000 after buying an additional 92 shares during the period. Black Diamond Financial LLC boosted its stake in Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after buying an additional 93 shares in the last quarter. Berkshire Bank raised its position in Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares during the last quarter. J.Safra Asset Management Corp raised its position in Prologis by 22.3% in the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 102 shares during the last quarter. Finally, Bridgewater Associates LP raised its position in Prologis by 4.0% in the third quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock valued at $338,000 after purchasing an additional 103 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Down 3.4 %

PLD stock opened at $108.27 on Friday. The company’s 50 day simple moving average is $117.54 and its 200-day simple moving average is $116.99. The firm has a market capitalization of $100.35 billion, a PE ratio of 27.07, a P/E/G ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PLD. UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Wolfe Research cut their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. 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 given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.