Sei Investments Co. Sells 39,318 Shares of Prologis, Inc. (NYSE:PLD)

Sei Investments Co. lowered its stake in Prologis, Inc. (NYSE:PLD) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,288,172 shares of the real estate investment trust’s stock after selling 39,318 shares during the period. Sei Investments Co.’s holdings in Prologis were worth $241,861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Plancorp LLC lifted its position in Prologis by 10.8% in the fourth quarter. Plancorp LLC now owns 101,836 shares of the real estate investment trust’s stock valued at $10,764,000 after purchasing an additional 9,964 shares during the last quarter. Mizuho Securities USA LLC lifted its position in Prologis by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 87,780 shares of the real estate investment trust’s stock valued at $9,278,000 after purchasing an additional 27,740 shares during the last quarter. Garland Capital Management Inc. bought a new stake in Prologis in the fourth quarter valued at approximately $2,671,000. Lee Danner & Bass Inc. lifted its position in Prologis by 3.4% in the fourth quarter. Lee Danner & Bass Inc. now owns 3,801 shares of the real estate investment trust’s stock valued at $402,000 after purchasing an additional 125 shares during the last quarter. Finally, HUB Investment Partners LLC lifted its position in Prologis by 10.4% in the fourth quarter. HUB Investment Partners LLC now owns 55,358 shares of the real estate investment trust’s stock valued at $5,851,000 after purchasing an additional 5,235 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $108.27 on Friday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The business has a fifty day moving average price of $117.54 and a 200-day moving average price of $117.07. The company has a market capitalization of $100.35 billion, a PE ratio of 27.07, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.73%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Insider Activity at Prologis

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

Analysts Set New Price Targets

Several research firms have recently issued reports on PLD. UBS Group boosted their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Scotiabank reduced their target price on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Wolfe Research reduced their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Finally, BNP Paribas raised Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target 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.