Prudent Man Advisors LLC Sells 2,281 Shares of Prologis, Inc. (NYSE:PLD)

Prudent Man Advisors LLC decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 11.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AMF Tjanstepension AB lifted its stake in shares of Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after purchasing an additional 1,365,811 shares during the last quarter. Integrated Advisors Network LLC lifted its stake in shares of Prologis by 2.4% during the 3rd quarter. Integrated Advisors Network LLC now owns 5,442 shares of the real estate investment trust’s stock worth $687,000 after purchasing an additional 126 shares during the last quarter. Financial Advocates Investment Management lifted its stake in shares of Prologis by 11.3% during the 3rd quarter. Financial Advocates Investment Management now owns 15,568 shares of the real estate investment trust’s stock worth $1,966,000 after purchasing an additional 1,576 shares during the last quarter. HM Payson & Co. lifted its stake in shares of Prologis by 20.4% during the 3rd quarter. HM Payson & Co. now owns 589 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 100 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Prologis by 3.1% during the 3rd quarter. US Bancorp DE now owns 697,319 shares of the real estate investment trust’s stock worth $88,058,000 after purchasing an additional 20,986 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred 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 transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of a number of research analyst reports. Barclays increased their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Truist Financial increased their price target on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Royal Bank of Canada raised their target price on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Finally, Robert W. Baird raised their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Stock Up 0.9 %

Shares of PLD opened at $123.88 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average is $114.28 and its two-hundred day moving average is $118.08. The firm has a market cap of $114.82 billion, a P/E ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Increases Dividend

The company also recently declared 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. The ex-dividend date 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 dividend yield of 3.26%. Prologis’s payout ratio is currently 101.00%.

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.