Cypress Capital Group Decreases Stake in Prologis, Inc. (NYSE:PLD)

Cypress Capital Group lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 12.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,336 shares of the real estate investment trust’s stock after selling 467 shares during the quarter. Cypress Capital Group’s holdings in Prologis were worth $353,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Dunhill Financial LLC boosted its holdings in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares during the period. Centricity Wealth Management LLC purchased a new position in Prologis in the 4th quarter worth approximately $30,000. Whipplewood Advisors LLC purchased a new position in Prologis in the 4th quarter worth approximately $34,000. Hara Capital LLC purchased a new position in Prologis in the 3rd quarter worth approximately $48,000. Finally, Coastline Trust Co purchased a new position in Prologis in the 3rd quarter worth approximately $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 transaction, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Scotiabank decreased their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. Mizuho reduced their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada increased their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. BTIG Research reduced their target price on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

NYSE:PLD opened at $124.08 on Thursday. The business’s 50-day moving average price is $115.40 and its 200 day moving average price is $118.03. The firm has a market cap of $115.00 billion, a P/E ratio of 31.02, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.26%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 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.