Woodward Diversified Capital LLC Cuts Stock Position in Prologis, Inc. (NYSE:PLD)

Woodward Diversified Capital LLC lessened its holdings in Prologis, Inc. (NYSE:PLD) by 43.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,576 shares of the real estate investment trust’s stock after selling 1,971 shares during the quarter. Woodward Diversified Capital LLC’s holdings in Prologis were worth $272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Dunhill Financial LLC increased its holdings in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of Prologis during the 3rd quarter worth approximately $48,000. Coastline Trust Co purchased a new stake in shares of Prologis during the 3rd quarter worth approximately $52,000. Fortitude Family Office LLC raised its holdings in shares of Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares during the period. Finally, Hanson & Doremus Investment Management lifted its stake in Prologis by 42.2% in the fourth quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 185 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on 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 completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD opened at $117.39 on Friday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market cap of $108.72 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The stock has a 50-day moving average price of $111.10 and a 200-day moving average price of $118.30.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. Prologis’s dividend payout ratio is presently 96.00%.

Analysts Set New Price Targets

A number of analysts have issued reports on PLD shares. Wolfe Research decreased their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Scotiabank dropped their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. BTIG Research reduced their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, UBS Group upped their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

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.