Csenge Advisory Group Cuts Stock Position in Prologis, Inc. (NYSE:PLD)

Csenge Advisory Group lessened its holdings in Prologis, Inc. (NYSE:PLD) by 2.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,823 shares of the real estate investment trust’s stock after selling 323 shares during the period. Csenge Advisory Group’s holdings in Prologis were worth $1,930,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Signaturefd LLC raised its stake in shares of Prologis by 7.7% in the first quarter. Signaturefd LLC now owns 13,668 shares of the real estate investment trust’s stock valued at $1,780,000 after acquiring an additional 979 shares during the period. Catalina Capital Group LLC bought a new position in Prologis during the 1st quarter worth about $227,000. Avidian Wealth Solutions LLC grew its holdings in Prologis by 3.1% during the 1st quarter. Avidian Wealth Solutions LLC now owns 7,155 shares of the real estate investment trust’s stock worth $932,000 after acquiring an additional 217 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Prologis in the 1st quarter valued at about $11,131,000. Finally, Easterly Investment Partners LLC acquired a new stake in Prologis in the first quarter valued at approximately $13,447,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com cut Prologis from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Royal Bank of Canada reduced their target price on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Argus decreased their target price on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Evercore ISI cut their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a research note on Thursday, April 18th. Finally, UBS Group cut their target price on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average price target of $129.76.

Prologis Trading Up 3.4 %

NYSE PLD traded up $3.97 during trading hours on Thursday, hitting $120.51. 1,852,125 shares of the company’s stock were exchanged, compared to its average volume of 3,674,877. The business’s 50 day moving average is $109.80 and its 200-day moving average is $120.78. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The firm has a market capitalization of $111.57 billion, a P/E ratio of 34.99, a price-to-earnings-growth ratio of 2.55 and a beta of 1.06. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.19%. Prologis’s dividend payout ratio (DPR) is 112.28%.

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.