Sage Mountain Advisors LLC Decreases Stock Position in Prologis, Inc. (NYSE:PLD)

Sage Mountain Advisors LLC decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,402 shares of the real estate investment trust’s stock after selling 264 shares during the period. Sage Mountain Advisors LLC’s holdings in Prologis were worth $465,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Assetmark Inc. raised its holdings in Prologis by 77.1% in the third quarter. Assetmark Inc. now owns 53,165 shares of the real estate investment trust’s stock valued at $6,714,000 after acquiring an additional 23,140 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its position in shares of Prologis by 104.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 8,298 shares of the real estate investment trust’s stock valued at $1,048,000 after purchasing an additional 4,233 shares during the last quarter. Sigma Planning Corp raised its holdings in shares of Prologis by 5.0% in the 3rd quarter. Sigma Planning Corp now owns 7,809 shares of the real estate investment trust’s stock valued at $986,000 after purchasing an additional 372 shares in the last quarter. Tyler Stone Wealth Management lifted its position in shares of Prologis by 158.7% during the 3rd quarter. Tyler Stone Wealth Management now owns 2,191 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 1,344 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Prologis during the third quarter worth $209,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 0.4 %

NYSE:PLD opened at $117.39 on Wednesday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.27. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The stock’s 50 day simple moving average is $116.45 and its 200-day simple moving average is $117.79. The firm has a market cap of $108.81 billion, a P/E ratio of 29.35, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.44%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is presently 101.00%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated 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 transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on PLD shares. Robert W. Baird raised their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Royal Bank of Canada raised their target price on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Finally, Mizuho dropped their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.