Prologis, Inc. (NYSE:PLD) Shares Sold by Texas Yale Capital Corp.

Texas Yale Capital Corp. lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 46,069 shares of the real estate investment trust’s stock after selling 769 shares during the period. Texas Yale Capital Corp.’s holdings in Prologis were worth $4,870,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new position in Prologis in the 4th quarter worth about $26,000. Crowley Wealth Management Inc. acquired a new position in shares of Prologis in the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new position in shares of Prologis in the fourth quarter worth approximately $30,000. Whipplewood Advisors LLC acquired a new stake in shares of Prologis during the fourth quarter valued at approximately $34,000. Finally, Promus Capital LLC purchased a new stake in shares of Prologis in the 4th quarter valued at approximately $34,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $89.41 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $115.10 and a 200 day moving average price of $114.79. The company has a market cap of $82.88 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 2.70 and a beta of 1.20. Prologis, Inc. has a twelve month low of $87.93 and a twelve month high of $132.57.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 4.52%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. BTIG Research dropped their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Mizuho cut their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Wolfe Research dropped their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.78.

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.