Prologis, Inc. (NYSE:PLD) Shares Sold by Cape ANN Savings Bank

Cape ANN Savings Bank trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 13.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,773 shares of the real estate investment trust’s stock after selling 580 shares during the quarter. Cape ANN Savings Bank’s holdings in Prologis were worth $399,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Dunhill Financial LLC boosted its holdings in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Prologis in the fourth quarter valued at $30,000. Hara Capital LLC acquired a new position in Prologis in the third quarter valued at $48,000. Coastline Trust Co purchased a new position in shares of Prologis during the third quarter worth about $52,000. Finally, Fortitude Family Office LLC increased its position in shares of Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

PLD stock opened at $121.01 on Monday. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The firm has a 50-day moving average of $112.56 and a two-hundred day moving average of $117.99. The firm has a market capitalization of $112.16 billion, a PE ratio of 30.25, a P/E/G ratio of 2.70 and a beta of 1.10. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This is an increase 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 dividend on an annualized basis and a dividend yield of 3.34%. Prologis’s dividend payout ratio is currently 96.00%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred 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 transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Robert W. Baird upped their target price on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. BTIG Research lowered their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Wolfe Research reduced their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Scotiabank decreased their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis 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.