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

Transcend Capital Advisors LLC decreased its position in Prologis, Inc. (NYSE:PLD) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,221 shares of the real estate investment trust’s stock after selling 226 shares during the period. Transcend Capital Advisors LLC’s holdings in Prologis were worth $763,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new position in Prologis in the 4th quarter worth about $30,000. FDx Advisors Inc. raised its holdings in Prologis by 11.2% in the 4th quarter. FDx Advisors Inc. now owns 1,993 shares of the real estate investment trust’s stock worth $211,000 after purchasing an additional 201 shares during the period. Nicholson Wealth Management Group LLC raised its holdings in Prologis by 174.3% in the 4th quarter. Nicholson Wealth Management Group LLC now owns 12,671 shares of the real estate investment trust’s stock worth $1,339,000 after purchasing an additional 8,051 shares during the period. Mattern Capital Management LLC increased its position in shares of Prologis by 5.1% in the fourth quarter. Mattern Capital Management LLC now owns 74,923 shares of the real estate investment trust’s stock valued at $7,919,000 after buying an additional 3,632 shares in the last quarter. Finally, First Bank & Trust increased its position in shares of Prologis by 167.2% in the fourth quarter. First Bank & Trust now owns 16,164 shares of the real estate investment trust’s stock valued at $1,709,000 after buying an additional 10,114 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.1 %

Shares of PLD opened at $121.01 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The firm has a 50-day moving average price of $112.56 and a 200 day moving average price of $118.01. The firm has a market capitalization of $112.16 billion, a P/E ratio of 30.25, a P/E/G ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.34%. Prologis’s dividend payout ratio is 96.00%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Mizuho cut their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Truist Financial boosted their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. UBS Group boosted their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, BNP Paribas upgraded 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 given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.