Cwm LLC Sells 3,211 Shares of Prologis, Inc. (NYSE:PLD)

Cwm LLC cut its holdings in Prologis, Inc. (NYSE:PLD) by 15.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 18,211 shares of the real estate investment trust’s stock after selling 3,211 shares during the quarter. Cwm LLC’s holdings in Prologis were worth $2,427,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Thompson Investment Management Inc. bought a new position in shares of Prologis in the 4th quarter valued at approximately $28,000. FinTrust Capital Advisors LLC lifted its stake in shares of Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 232 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in Prologis during the 4th quarter worth $37,000. FNY Investment Advisers LLC bought a new stake in Prologis during the fourth quarter valued at about $39,000. Finally, Valley National Advisers Inc. grew its position in shares of Prologis by 178.6% in the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 250 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLD. StockNews.com downgraded Prologis from a “hold” rating to a “sell” rating in a research note on Wednesday. UBS Group reduced their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Raymond James boosted their target price on shares of Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 24th. Royal Bank of Canada increased their price target on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, BMO Capital Markets downgraded shares of Prologis from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $145.00 to $112.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $134.24.

Prologis Stock Up 0.2 %

Shares of NYSE PLD opened at $103.35 on Friday. The business has a fifty day moving average of $125.65 and a two-hundred day moving average of $121.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 0.08. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The stock has a market cap of $95.60 billion, a PE ratio of 30.22, a PEG ratio of 2.17 and a beta of 1.00.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.72%. Prologis’s payout ratio is 112.28%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.