Sei Investments Co. Sells 39,318 Shares of Prologis, Inc. (NYSE:PLD)

Sei Investments Co. trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,288,172 shares of the real estate investment trust’s stock after selling 39,318 shares during the period. Sei Investments Co. owned about 0.25% of Prologis worth $241,861,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PLD. Centricity Wealth Management LLC bought a new stake in shares of Prologis during the 4th quarter worth $30,000. Dunhill Financial LLC raised its stake in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of Prologis during the 4th quarter worth $34,000. Promus Capital LLC purchased a new stake in Prologis in the 4th quarter worth about $34,000. Finally, Asset Planning Inc purchased a new stake in Prologis in the 4th quarter worth about $53,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. BTIG Research decreased their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. 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. Royal Bank of Canada lifted their price objective on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Finally, Truist Financial lifted their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. One equities 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 given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on 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 sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Prologis Stock Down 3.4 %

Shares of NYSE PLD opened at $108.27 on Friday. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57. 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 firm has a market capitalization of $100.35 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 2.70 and a beta of 1.09. The business has a 50-day moving average of $117.54 and a 200-day moving average of $117.07.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.73%. Prologis’s payout ratio is presently 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.