Maple Capital Management Inc. Sells 135 Shares of Prologis, Inc. (NYSE:PLD)

Maple Capital Management Inc. reduced its stake in Prologis, Inc. (NYSE:PLD) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,175 shares of the real estate investment trust’s stock after selling 135 shares during the period. Maple Capital Management Inc.’s holdings in Prologis were worth $230,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Centricity Wealth Management LLC bought a new position in Prologis during the 4th quarter valued at about $30,000. Dunhill Financial LLC lifted its position in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Whipplewood Advisors LLC bought a new position in shares of Prologis during the 4th quarter worth approximately $34,000. Hara Capital LLC acquired a new position in Prologis during the 3rd quarter valued at approximately $48,000. Finally, Coastline Trust Co acquired a new position in Prologis during the 3rd quarter valued at approximately $52,000. 93.50% of the stock is currently owned by institutional investors.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s 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 completion of the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Mizuho lowered their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Robert W. Baird lifted their price target 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. BTIG Research lowered their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, UBS Group lifted their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have issued 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

NYSE PLD opened at $123.88 on Friday. The stock’s 50-day moving average price is $114.28 and its two-hundred day moving average price is $118.08. 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 company has a market cap of $114.82 billion, a PE ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is 101.00%.

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.