Sigma Investment Counselors Inc. Decreases Stake in Prologis, Inc. (NYSE:PLD)

Sigma Investment Counselors Inc. decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,488 shares of the real estate investment trust’s stock after selling 1,470 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Prologis were worth $3,117,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PLD. Empirical Asset Management LLC boosted its stake in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after buying an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. raised its holdings in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after acquiring an additional 25,266 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Prologis by 2.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after acquiring an additional 29,400 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of Prologis in the third quarter valued at about $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Prologis during the third quarter worth about $7,371,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.

Prologis Stock Performance

Shares of PLD stock opened at $121.01 on Friday. The firm has a 50 day moving average of $112.56 and a two-hundred day moving average of $118.01. The stock has a market capitalization of $112.16 billion, a PE ratio of 30.25, a P/E/G ratio of 2.70 and a beta of 1.10. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.34%. Prologis’s dividend payout ratio (DPR) is 96.00%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Wolfe Research decreased their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Robert W. Baird raised their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. BTIG Research decreased their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, Barclays raised their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $128.78.

About Prologis

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.