RB Capital Management LLC Has $826,000 Stake in Prologis, Inc. (NYSE:PLD)

RB Capital Management LLC lessened its stake in Prologis, Inc. (NYSE:PLD) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,197 shares of the real estate investment trust’s stock after selling 189 shares during the quarter. RB Capital Management LLC’s holdings in Prologis were worth $826,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. RMR Wealth Builders raised its holdings in shares of Prologis by 72.8% in the third quarter. RMR Wealth Builders now owns 2,887 shares of the real estate investment trust’s stock valued at $324,000 after purchasing an additional 1,216 shares during the last quarter. Accurate Wealth Management LLC increased its stake in Prologis by 20.2% in the 3rd quarter. Accurate Wealth Management LLC now owns 2,955 shares of the real estate investment trust’s stock valued at $320,000 after buying an additional 497 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Prologis by 5.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 78,909 shares of the real estate investment trust’s stock worth $8,854,000 after buying an additional 3,852 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Prologis by 0.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 480,522 shares of the real estate investment trust’s stock worth $53,919,000 after buying an additional 2,543 shares during the last quarter. Finally, Clear Creek Financial Management LLC grew its holdings in shares of Prologis by 26.3% in the third quarter. Clear Creek Financial Management LLC now owns 3,377 shares of the real estate investment trust’s stock valued at $379,000 after acquiring an additional 704 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of Prologis stock traded down $0.17 during trading on Wednesday, hitting $101.88. 5,503,508 shares of the stock traded hands, compared to its average volume of 3,508,729. The firm’s fifty day moving average is $123.87 and its 200-day moving average is $121.92. The stock has a market cap of $94.32 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 2.18 and a beta of 1.00. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.77%. This is a positive change from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Analysts Set New Price Targets

A number of analysts recently commented on PLD shares. Robert W. Baird dropped their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday. Mizuho reiterated a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a research note on Tuesday, April 2nd. TheStreet raised Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. The Goldman Sachs Group dropped their price target on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, UBS Group decreased their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.35.

Prologis Profile

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.