Prologis, Inc. (NYSE:PLD) Shares Sold by Cedar Wealth Management LLC

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC lifted its stake in Prologis by 16.8% in the fourth quarter. LPL Financial LLC now owns 951,459 shares of the real estate investment trust’s stock valued at $100,569,000 after acquiring an additional 136,545 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Prologis in the 4th quarter valued at $34,537,000. Umpqua Bank boosted its holdings in Prologis by 11.2% in the 4th quarter. Umpqua Bank now owns 5,579 shares of the real estate investment trust’s stock valued at $603,000 after purchasing an additional 564 shares during the period. Plancorp LLC lifted its holdings in shares of Prologis by 10.8% during the 4th quarter. Plancorp LLC now owns 101,836 shares of the real estate investment trust’s stock worth $10,764,000 after acquiring an additional 9,964 shares during the period. Finally, Mizuho Securities USA LLC lifted its holdings in shares of Prologis by 46.2% during the 4th quarter. Mizuho Securities USA LLC now owns 87,780 shares of the real estate investment trust’s stock worth $9,278,000 after acquiring an additional 27,740 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Truist Financial lifted their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Mizuho lowered their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada lifted their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. Finally, Wolfe Research lowered their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

Prologis Trading Down 3.4 %

Shares of PLD opened at $108.27 on Friday. The business has a 50-day moving average of $117.54 and a 200 day moving average of $116.99. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. The firm has a market cap of $100.35 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.73%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Prologis 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.