SC&H Financial Advisors Inc. Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

SC&H Financial Advisors Inc. lowered its holdings in Prologis, Inc. (NYSE:PLD) by 37.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,761 shares of the real estate investment trust’s stock after selling 2,259 shares during the quarter. SC&H Financial Advisors Inc.’s holdings in Prologis were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PLD. Empirical Asset Management LLC lifted its holdings in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after buying an additional 52,963 shares during the period. Sunflower Bank N.A. purchased a new stake in shares of Prologis during the 3rd quarter worth $249,000. Cardano Risk Management B.V. boosted its position in Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after purchasing an additional 25,266 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Prologis by 2.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after purchasing an additional 29,400 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in Prologis in the third quarter worth about $1,051,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. Royal Bank of Canada lifted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Robert W. Baird boosted their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Wolfe Research decreased their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Prologis Stock Performance

Shares of NYSE PLD opened at $117.39 on Friday. The stock has a market cap of $108.72 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.66 and a beta of 1.10. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a 50 day simple moving average of $111.10 and a two-hundred day simple moving average of $118.30. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.27%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

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.