Crumly & Associates Inc. Sells 1,716 Shares of Prologis, Inc. (NYSE:PLD)

Crumly & Associates Inc. trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 19.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,307 shares of the real estate investment trust’s stock after selling 1,716 shares during the quarter. Crumly & Associates Inc.’s holdings in Prologis were worth $772,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after purchasing an additional 2,138,693 shares during the last quarter. AMF Tjanstepension AB raised its holdings in Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after purchasing an additional 1,365,811 shares during the last quarter. Cardano Risk Management B.V. bought a new stake in Prologis during the 3rd quarter worth about $109,579,000. Finally, Jennison Associates LLC raised its holdings in Prologis by 395.3% during the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after purchasing an additional 829,504 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PLD. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. UBS Group boosted their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Trading Down 0.6 %

NYSE:PLD opened at $120.90 on Friday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $112.36 and a two-hundred day moving average price of $118.01. The company has a market cap of $112.05 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 2.71 and a beta of 1.10.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.34%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is 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.