Wambolt & Associates LLC Sells 2,507 Shares of Prologis, Inc. (NYSE:PLD)

Wambolt & Associates LLC cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 12.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 18,369 shares of the real estate investment trust’s stock after selling 2,507 shares during the period. Wambolt & Associates LLC’s holdings in Prologis were worth $1,942,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Crowley Wealth Management Inc. purchased a new position in Prologis during the 4th quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in shares of Prologis during the fourth quarter worth about $30,000. Dunhill Financial LLC increased its holdings in shares of 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 acquiring an additional 182 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Prologis in the 4th quarter valued at approximately $34,000. Finally, Promus Capital LLC acquired a new stake in Prologis in the 4th quarter worth approximately $34,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Up 1.8 %

Prologis stock opened at $110.35 on Tuesday. The company has a market capitalization of $102.28 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two 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 firm has a 50 day moving average price of $117.64 and a 200 day moving average price of $116.80.

Prologis Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.66%. Prologis’s dividend payout ratio is 101.00%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’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 sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Robert W. Baird upped their price target on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Finally, Wolfe Research cut their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One investment 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, Prologis currently has a consensus 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.