RWA Wealth Partners LLC Sells 108,703 Shares of Prologis, Inc. (NYSE:PLD)

RWA Wealth Partners LLC lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 91.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,036 shares of the real estate investment trust’s stock after selling 108,703 shares during the period. RWA Wealth Partners LLC’s holdings in Prologis were worth $1,061,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PLD. Townsquare Capital LLC raised its holdings in Prologis by 12.5% in the third quarter. Townsquare Capital LLC now owns 15,307 shares of the real estate investment trust’s stock worth $1,933,000 after purchasing an additional 1,705 shares in the last quarter. Bridgewater Associates LP raised its stake in shares of Prologis by 4.0% during the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock worth $338,000 after acquiring an additional 103 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in Prologis during the third quarter valued at approximately $16,052,000. Benjamin Edwards Inc. lifted its position in Prologis by 736.6% during the third quarter. Benjamin Edwards Inc. now owns 23,641 shares of the real estate investment trust’s stock valued at $2,986,000 after acquiring an additional 20,815 shares during the last quarter. Finally, Hilltop Holdings Inc. boosted its stake in Prologis by 290.7% in the third quarter. Hilltop Holdings Inc. now owns 32,009 shares of the real estate investment trust’s stock valued at $4,042,000 after acquiring an additional 23,816 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 1.2 %

Prologis stock opened at $111.79 on Tuesday. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The firm has a market cap of $103.61 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The business’s 50-day moving average price is $117.78 and its 200 day moving average price is $116.11. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.61%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction 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 transaction, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on PLD shares. BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Wolfe Research lowered their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. UBS Group increased their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.78.

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.