Red Cedar Investment Management LLC Has $1.09 Million Stake in Prologis, Inc. (NYSE:PLD)

Red Cedar Investment Management LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 12.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,178 shares of the real estate investment trust’s stock after acquiring an additional 927 shares during the quarter. Red Cedar Investment Management LLC’s holdings in Prologis were worth $1,090,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vestmark Advisory Solutions Inc. grew its holdings in shares of Prologis by 18.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 16,305 shares of the real estate investment trust’s stock valued at $2,173,000 after acquiring an additional 2,565 shares in the last quarter. Seven Post Investment Office LP grew its stake in Prologis by 0.6% in the fourth quarter. Seven Post Investment Office LP now owns 157,047 shares of the real estate investment trust’s stock valued at $20,934,000 after purchasing an additional 892 shares in the last quarter. AJOVista LLC acquired a new position in shares of Prologis during the 4th quarter worth approximately $253,000. Legacy Financial Advisors Inc. raised its stake in shares of Prologis by 5.7% during the 4th quarter. Legacy Financial Advisors Inc. now owns 4,041 shares of the real estate investment trust’s stock worth $539,000 after purchasing an additional 219 shares in the last quarter. Finally, Sapient Capital LLC bought a new stake in shares of Prologis during the 4th quarter worth approximately $890,000. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

NYSE:PLD traded up $1.36 during mid-day trading on Friday, reaching $105.89. 3,517,673 shares of the company’s stock were exchanged, compared to its average volume of 4,890,799. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The business’s fifty day simple moving average is $122.11 and its two-hundred day simple moving average is $121.63. The firm has a market capitalization of $98.04 billion, a PE ratio of 30.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.63%. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PLD shares. StockNews.com downgraded shares of Prologis from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Royal Bank of Canada upped their target price on shares of Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Barclays reduced their price target on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, April 29th. TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Finally, Raymond James raised their price objective on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average target price of $132.35.

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.