Roger Wittlin Investment Advisory LLC Sells 2,399 Shares of Prologis, Inc. (NYSE:PLD)

Roger Wittlin Investment Advisory LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 28.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,956 shares of the real estate investment trust's stock after selling 2,399 shares during the period. Roger Wittlin Investment Advisory LLC's holdings in Prologis were worth $630,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Prologis in the 4th quarter valued at approximately $951,263,000. Raymond James Financial Inc. bought a new stake in shares of Prologis in the fourth quarter worth $254,876,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Prologis by 83.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock valued at $399,528,000 after acquiring an additional 1,723,129 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Prologis by 59.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,584,288 shares of the real estate investment trust's stock valued at $272,642,000 after acquiring an additional 964,454 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Prologis by 395.3% during the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust's stock worth $109,858,000 after acquiring an additional 829,504 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BTIG Research cut their target price on shares of Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Scotiabank decreased their price target on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a report on Monday, January 27th. Mizuho dropped their price objective on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird lifted their target price on Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, UBS Group increased their price target on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $128.78.

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Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction 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 transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.

Prologis Stock Down 3.4 %

Shares of Prologis stock traded down $3.49 during midday trading on Friday, reaching $98.10. 12,661,108 shares of the company's stock traded hands, compared to its average volume of 3,970,889. 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, Inc. has a 52 week low of $95.34 and a 52 week high of $132.57. The company's 50 day simple moving average is $116.86 and its 200 day simple moving average is $115.64. The company has a market cap of $90.94 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.12%. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is currently 101.00%.

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.