Nemes Rush Group LLC Lowers Stock Holdings in Prologis, Inc. (NYSE:PLD)

Nemes Rush Group LLC lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 17.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,919 shares of the real estate investment trust’s stock after selling 625 shares during the period. Nemes Rush Group LLC’s holdings in Prologis were worth $308,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Murphy & Mullick Capital Management Corp bought a new position in Prologis in the 4th quarter valued at $26,000. 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 Prologis during the fourth quarter valued at $30,000. Dunhill Financial LLC grew its position in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in Prologis during the fourth quarter worth about $34,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 0.3 %

Shares of NYSE PLD opened at $111.49 on Wednesday. The company has a market cap of $103.33 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average is $117.67 and its 200 day moving average is $115.98. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57.

Prologis Increases Dividend

The company also recently disclosed 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 represents a $4.04 annualized dividend and a dividend yield of 3.62%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. Prologis’s dividend payout ratio is 101.00%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction that occurred 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 sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PLD has been the subject of a number of research analyst reports. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Scotiabank dropped their target price on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. Mizuho cut their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada raised their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Finally, Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus 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.