Crumly & Associates Inc. Has $772,000 Position in Prologis, Inc. (NYSE:PLD)

Crumly & Associates Inc. lowered its position in Prologis, Inc. (NYSE:PLD) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,307 shares of the real estate investment trust’s stock after selling 1,716 shares during the period. Crumly & Associates Inc.’s holdings in Prologis were worth $772,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Prologis by 534.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after purchasing an additional 2,138,693 shares during the period. AMF Tjanstepension AB raised its position in shares of Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after purchasing an additional 1,365,811 shares during the period. Cardano Risk Management B.V. bought a new position in shares of Prologis in the third quarter valued at approximately $109,579,000. Finally, Jennison Associates LLC raised its position in shares of Prologis by 395.3% in the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock valued at $109,858,000 after purchasing an additional 829,504 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 0.6 %

Shares of NYSE:PLD opened at $120.90 on Friday. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The company’s fifty day moving average is $112.36 and its 200-day moving average is $118.01. The company has a market capitalization of $112.05 billion, a PE ratio of 30.22, a P/E/G ratio of 2.71 and a beta of 1.10.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.34%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is currently 96.00%.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PLD has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. UBS Group lifted their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Truist Financial lifted their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Scotiabank lowered their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Finally, BTIG Research lowered their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. One research 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

About Prologis

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.