Prologis, Inc. (NYSE:PLD) Shares Sold by LM Advisors LLC

LM Advisors LLC trimmed its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 50.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,752 shares of the real estate investment trust's stock after selling 2,800 shares during the period. LM Advisors LLC's holdings in Prologis were worth $291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PLD. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis in the fourth quarter valued at $26,000. Crowley Wealth Management Inc. bought a new position in Prologis during the 4th quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis during the fourth quarter valued at approximately $30,000. Dunhill Financial LLC grew its stake in shares of Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 182 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Prologis in the fourth quarter worth approximately $34,000. Institutional investors own 93.50% of the company's stock.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated 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 completion of the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

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Prologis Price Performance

Shares of PLD stock traded up $0.06 during trading hours on Tuesday, hitting $111.85. 984,324 shares of the company's stock were exchanged, compared to its average volume of 3,908,284. The firm has a 50 day moving average of $117.78 and a two-hundred day moving average of $116.11. 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 $103.66 billion, a P/E ratio of 27.95, a P/E/G ratio of 2.70 and a beta of 1.09. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.61%. This is a boost from Prologis's previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. Prologis's dividend payout ratio is 101.00%.

Wall Street Analyst Weigh In

Several brokerages have commented on PLD. BMO Capital Markets downgraded Prologis from a "market perform" rating to an "underperform" rating and cut their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Scotiabank reduced their price target on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Monday, January 27th. Royal Bank of Canada boosted their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research report on Monday, January 27th. Mizuho reduced their target price on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Finally, BNP Paribas raised Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.