RMR Wealth Builders Sells 836 Shares of Prologis, Inc. (NYSE:PLD)

RMR Wealth Builders lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 29.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,051 shares of the real estate investment trust’s stock after selling 836 shares during the period. RMR Wealth Builders’ holdings in Prologis were worth $273,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Thompson Investment Management Inc. bought a new position in Prologis in the 4th quarter valued at about $28,000. Salem Investment Counselors Inc. bought a new position in Prologis in the fourth quarter valued at approximately $37,000. FNY Investment Advisers LLC acquired a new position in Prologis during the fourth quarter valued at approximately $39,000. Valley National Advisers Inc. raised its position in Prologis by 178.6% during the third quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 250 shares in the last quarter. Finally, Webster Bank N. A. boosted its holdings in shares of Prologis by 3,600.0% in the 4th quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 324 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

Shares of PLD stock traded down $1.87 on Wednesday, hitting $105.89. 2,947,728 shares of the stock were exchanged, compared to its average volume of 3,559,533. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $98.04 billion, a PE ratio of 30.96, a P/E/G ratio of 2.20 and a beta of 1.05. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The firm’s 50 day moving average is $121.06 and its two-hundred day moving average is $121.90.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a dividend of $0.96 per share. This is an increase from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 annualized dividend and a dividend yield of 3.63%. Prologis’s dividend payout ratio is presently 112.28%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLD. Robert W. Baird decreased their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Evercore ISI lowered their target price on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. Mizuho restated a “neutral” rating and set a $130.00 price target on shares of Prologis in a report on Tuesday, April 2nd. UBS Group reduced their target price on Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Morgan Stanley upped their target price on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, four have given 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, the company has a consensus rating of “Moderate Buy” and an average target price of $131.12.

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.