Maple Capital Management Inc. Sells 135 Shares of Prologis, Inc. (NYSE:PLD)

Maple Capital Management Inc. trimmed its stake in Prologis, Inc. (NYSE:PLD) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,175 shares of the real estate investment trust’s stock after selling 135 shares during the period. Maple Capital Management Inc.’s holdings in Prologis were worth $230,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PLD. Centricity Wealth Management LLC bought a new stake in Prologis in the fourth quarter valued at $30,000. Dunhill Financial LLC grew its position in 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 during the period. Whipplewood Advisors LLC bought a new stake in Prologis in the fourth quarter valued at $34,000. Hara Capital LLC bought a new stake in Prologis in the third quarter valued at $48,000. Finally, Coastline Trust Co bought a new stake in shares of Prologis during the third quarter worth $52,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

PLD stock opened at $123.88 on Friday. The firm has a market cap of $114.82 billion, a PE ratio of 30.97, a P/E/G ratio of 2.70 and a beta of 1.10. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $114.28 and a 200-day moving average of $118.08. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

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 represents a $4.04 annualized dividend and a yield of 3.26%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio is 101.00%.

Insider Buying and Selling at Prologis

In other 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 value of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on PLD shares. Robert W. Baird increased their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Finally, Wolfe Research decreased their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

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.