Signaturefd LLC Sells 2,129 Shares of Prologis, Inc. (NYSE:PLD)

Signaturefd LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,518 shares of the real estate investment trust’s stock after selling 2,129 shares during the quarter. Signaturefd LLC’s holdings in Prologis were worth $1,323,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLD. Centricity Wealth Management LLC acquired a new position in Prologis during the fourth quarter valued at approximately $30,000. Dunhill Financial LLC grew its holdings in 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 purchasing an additional 182 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in Prologis during the fourth quarter valued at approximately $34,000. Promus Capital LLC acquired a new stake in shares of Prologis in the fourth quarter worth $34,000. Finally, Asset Planning Inc acquired a new stake in shares of Prologis in the fourth quarter worth $53,000. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Royal Bank of Canada raised their price objective on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. BTIG Research lowered their price objective 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. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s 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 directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Stock Down 1.9 %

Shares of NYSE PLD opened at $112.27 on Wednesday. The firm’s 50-day simple moving average is $117.16 and its 200 day simple moving average is $117.28. The company has a market cap of $104.06 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth 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, Inc. has a 12-month low of $100.82 and a 12-month high of $132.57.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued 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 yield of 3.60%. The ex-dividend date of this dividend is Tuesday, March 18th. 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.