Wambolt & Associates LLC Cuts Stake in Prologis, Inc. (NYSE:PLD)

Wambolt & Associates LLC trimmed its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 12.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 18,369 shares of the real estate investment trust's stock after selling 2,507 shares during the period. Wambolt & Associates LLC's holdings in Prologis were worth $1,942,000 at the end of the most recent reporting period.

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

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.50% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. BNP Paribas upgraded Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Raymond James restated a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. BMO Capital Markets downgraded shares of Prologis from a "market perform" rating to an "underperform" rating and cut their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Finally, UBS Group boosted their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $128.78.

Prologis Price Performance

Shares of PLD traded down $0.38 during trading hours on Friday, reaching $110.37. 3,660,201 shares of the company traded hands, compared to its average volume of 3,915,027. The stock has a market capitalization of $102.29 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The stock has a fifty day simple moving average of $117.74 and a 200 day simple moving average of $116.34. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57. 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 company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a boost from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Tuesday, March 18th. Prologis's dividend payout ratio (DPR) 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.