SageView Advisory Group LLC Sells 379 Shares of Prologis, Inc. (NYSE:PLD)

SageView Advisory Group LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,643 shares of the real estate investment trust’s stock after selling 379 shares during the quarter. SageView Advisory Group LLC’s holdings in Prologis were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PLD. Pine Valley Investments Ltd Liability Co lifted its holdings in Prologis by 14.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 18,163 shares of the real estate investment trust’s stock worth $2,294,000 after acquiring an additional 2,245 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Prologis during the third quarter worth about $989,000. Wilmington Savings Fund Society FSB bought a new position in shares of Prologis during the 3rd quarter valued at about $1,348,000. Destination Wealth Management grew its position in shares of Prologis by 121.5% in the 3rd quarter. Destination Wealth Management now owns 4,504 shares of the real estate investment trust’s stock valued at $569,000 after purchasing an additional 2,471 shares during the period. Finally, Tidal Investments LLC increased its stake in Prologis by 12.7% during the 3rd quarter. Tidal Investments LLC now owns 200,250 shares of the real estate investment trust’s stock worth $25,288,000 after purchasing an additional 22,516 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 0.1 %

Shares of NYSE:PLD opened at $98.42 on Wednesday. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The company has a market capitalization of $91.23 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The company has a 50-day simple moving average of $112.53 and a 200 day simple moving average of $113.68.

Prologis Increases Dividend

The firm also recently disclosed 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 4.10%. 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 (DPR) is presently 101.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLD. Mizuho cut their price target 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. UBS Group upped their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.78.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on 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 owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.