Transcend Capital Advisors LLC Lowers Stock Position in Prologis, Inc. (NYSE:PLD)

Transcend Capital Advisors LLC lessened its holdings in Prologis, Inc. (NYSE:PLD) by 3.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,221 shares of the real estate investment trust’s stock after selling 226 shares during the period. Transcend Capital Advisors LLC’s holdings in Prologis were worth $763,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Centricity Wealth Management LLC purchased a new stake in Prologis during the fourth quarter worth $30,000. FDx Advisors Inc. lifted its stake in shares of Prologis by 11.2% during the 4th quarter. FDx Advisors Inc. now owns 1,993 shares of the real estate investment trust’s stock worth $211,000 after purchasing an additional 201 shares during the last quarter. Nicholson Wealth Management Group LLC lifted its stake in shares of Prologis by 174.3% during the 4th quarter. Nicholson Wealth Management Group LLC now owns 12,671 shares of the real estate investment trust’s stock worth $1,339,000 after purchasing an additional 8,051 shares during the last quarter. Mattern Capital Management LLC lifted its stake in shares of Prologis by 5.1% during the 4th quarter. Mattern Capital Management LLC now owns 74,923 shares of the real estate investment trust’s stock worth $7,919,000 after purchasing an additional 3,632 shares during the last quarter. Finally, First Bank & Trust lifted its stake in shares of Prologis by 167.2% during the 4th quarter. First Bank & Trust now owns 16,164 shares of the real estate investment trust’s stock worth $1,709,000 after purchasing an additional 10,114 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated 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 owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PLD has been the subject of several analyst reports. UBS Group increased their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Truist Financial increased their target price 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. Robert W. Baird increased their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Barclays raised their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. One 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Performance

Shares of NYSE PLD opened at $121.01 on Friday. 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, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a 50 day simple moving average of $112.56 and a two-hundred day simple moving average of $118.01. The stock has a market cap of $112.16 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.34%. Prologis’s payout ratio is currently 96.00%.

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.