SageView Advisory Group LLC Sells 379 Shares of Prologis, Inc. (NYSE:PLD)

SageView Advisory Group LLC lowered its position in Prologis, Inc. (NYSE:PLD) by 9.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,643 shares of the real estate investment trust’s stock after selling 379 shares during the quarter. SageView Advisory Group LLC’s holdings in Prologis were worth $385,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PLD. Pine Valley Investments Ltd Liability Co lifted its stake in Prologis by 14.1% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 18,163 shares of the real estate investment trust’s stock worth $2,294,000 after purchasing an additional 2,245 shares during the period. World Investment Advisors LLC acquired a new position in shares of Prologis in the 3rd quarter worth approximately $989,000. Wilmington Savings Fund Society FSB bought a new position in shares of Prologis during the 3rd quarter worth approximately $1,348,000. Destination Wealth Management boosted its stake in Prologis by 121.5% in the 3rd quarter. Destination Wealth Management now owns 4,504 shares of the real estate investment trust’s stock valued at $569,000 after buying an additional 2,471 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in Prologis by 12.7% in the 3rd quarter. Tidal Investments LLC now owns 200,250 shares of the real estate investment trust’s stock valued at $25,288,000 after buying an additional 22,516 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Up 0.1 %

Shares of NYSE PLD opened at $98.42 on Wednesday. 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 firm has a market capitalization of $91.23 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The firm’s 50-day moving average is $112.53 and its 200-day moving average is $113.68. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is currently 101.00%.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’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 directly owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

PLD has been the subject of a number of analyst reports. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Mizuho reduced their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. BTIG Research dropped their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Wolfe Research decreased their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.78.

About Prologis

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.