Sigma Planning Corp Sells 4,959 Shares of Prologis, Inc. (NYSE:PLD)

Sigma Planning Corp reduced its holdings in Prologis, Inc. (NYSE:PLD) by 67.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,381 shares of the real estate investment trust’s stock after selling 4,959 shares during the quarter. Sigma Planning Corp’s holdings in Prologis were worth $317,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its stake in Prologis by 1.3% in the fourth quarter. Handelsbanken Fonder AB now owns 359,324 shares of the real estate investment trust’s stock valued at $47,898,000 after acquiring an additional 4,438 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Prologis by 1.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 233,394 shares of the real estate investment trust’s stock valued at $31,111,000 after acquiring an additional 4,125 shares during the period. CNB Bank grew its stake in Prologis by 2.1% in the fourth quarter. CNB Bank now owns 5,856 shares of the real estate investment trust’s stock valued at $781,000 after acquiring an additional 119 shares during the period. HTLF Bank acquired a new stake in Prologis in the fourth quarter valued at approximately $2,776,000. Finally, Colton Groome Financial Advisors LLC grew its stake in Prologis by 23.2% in the fourth quarter. Colton Groome Financial Advisors LLC now owns 10,910 shares of the real estate investment trust’s stock valued at $1,454,000 after acquiring an additional 2,055 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Up 0.7 %

PLD stock opened at $104.06 on Friday. The stock’s fifty day simple moving average is $125.06 and its two-hundred day simple moving average is $121.94. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The stock has a market cap of $96.26 billion, a P/E ratio of 30.43, a P/E/G ratio of 2.15 and a beta of 1.00.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a $0.96 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.69%. This is a boost from Prologis’s previous quarterly dividend of $0.87. Prologis’s payout ratio is currently 112.28%.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research reports. Evercore ISI reduced their price objective on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. BMO Capital Markets cut Prologis from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $145.00 to $112.00 in a research note on Monday, April 22nd. Barclays reduced their price objective on Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, April 17th. Royal Bank of Canada lifted their target price on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, Robert W. Baird lifted their target price on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given 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 $134.24.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.