Waterloo Capital L.P. Sells 433 Shares of Prologis, Inc. (NYSE:PLD)

Waterloo Capital L.P. decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,102 shares of the real estate investment trust’s stock after selling 433 shares during the period. Waterloo Capital L.P.’s holdings in Prologis were worth $328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Prologis by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust’s stock worth $2,252,853,000 after buying an additional 610,251 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Prologis by 2.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust’s stock valued at $1,754,282,000 after acquiring an additional 334,907 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Prologis by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock valued at $1,099,569,000 after purchasing an additional 173,531 shares in the last quarter. Norges Bank bought a new stake in shares of Prologis in the 4th quarter worth about $951,263,000. Finally, Bank of New York Mellon Corp increased its position in shares of Prologis by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock worth $631,266,000 after purchasing an additional 32,644 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on PLD. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Raymond James reiterated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Scotiabank restated a “sector underperform” rating and set a $97.00 target price (down previously from $133.00) on shares of Prologis in a report on Monday. Robert W. Baird lifted their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Truist Financial increased their price objective on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $126.78.

Prologis Trading Down 3.9 %

NYSE PLD opened at $94.42 on Tuesday. Prologis, Inc. has a 12 month low of $91.67 and a 12 month high of $132.57. The stock has a 50-day simple moving average of $116.32 and a 200 day simple moving average of $115.22. 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 capitalization of $87.52 billion, a PE ratio of 23.60, a P/E/G ratio of 2.70 and a beta of 1.20.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.28%. Prologis’s dividend payout ratio is 101.00%.

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.