Roger Wittlin Investment Advisory LLC Trims Stake in Prologis, Inc. (NYSE:PLD)

Roger Wittlin Investment Advisory LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 28.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,956 shares of the real estate investment trust’s stock after selling 2,399 shares during the quarter. Roger Wittlin Investment Advisory LLC’s holdings in Prologis were worth $630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Murphy & Mullick Capital Management Corp purchased a new stake in Prologis in the 4th quarter worth approximately $26,000. Dunhill Financial LLC boosted its position in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Crowley Wealth Management Inc. purchased a new stake in shares of Prologis in the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in shares of Prologis during the 4th quarter valued at $30,000. Finally, Promus Capital LLC purchased a new position in shares of Prologis during the 4th quarter valued at $34,000. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 1.0 %

Shares of PLD opened at $112.52 on Thursday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $117.61 and its 200-day simple moving average is $115.95. The company has a market cap of $104.29 billion, a P/E ratio of 28.13, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a dividend of $1.01 per share. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.59%. Prologis’s dividend payout ratio is currently 101.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Truist Financial lifted their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’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 transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

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.