Tandem Capital Management Corp ADV Trims Stock Holdings in Prologis, Inc. (NYSE:PLD)

Tandem Capital Management Corp ADV reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,217 shares of the real estate investment trust’s stock after selling 277 shares during the period. Prologis accounts for 1.7% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 18th biggest holding. Tandem Capital Management Corp ADV’s holdings in Prologis were worth $2,695,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PLD. Thompson Investment Management Inc. bought a new position in shares of Prologis in the fourth quarter worth approximately $28,000. FinTrust Capital Advisors LLC increased its stake in Prologis by 966.7% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 232 shares in the last quarter. Salem Investment Counselors Inc. bought a new stake in Prologis during the fourth quarter valued at about $37,000. FNY Investment Advisers LLC purchased a new position in shares of Prologis in the fourth quarter valued at about $39,000. Finally, Valley National Advisers Inc. boosted its stake in shares of Prologis by 178.6% in the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 250 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on PLD shares. UBS Group decreased their target price on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Evercore ISI lowered their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a report on Thursday, April 18th. Robert W. Baird raised their target price on shares of Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. The Goldman Sachs Group decreased their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Barclays dropped their price objective on shares of Prologis from $141.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and an average price target of $134.24.

Prologis Trading Up 0.2 %

PLD traded up $0.17 on Thursday, hitting $103.35. The company had a trading volume of 3,798,273 shares, compared to its average volume of 3,476,304. The company has a market cap of $95.60 billion, a PE ratio of 30.22, a PEG ratio of 2.17 and a beta of 1.00. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $125.65 and its 200 day simple moving average is $121.90.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a $0.96 dividend. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a yield of 3.72%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

About Prologis

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.