Ceredex Value Advisors LLC Grows Holdings in Prologis, Inc. (NYSE:PLD)

Ceredex Value Advisors LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 461,737 shares of the real estate investment trust’s stock after buying an additional 117 shares during the quarter. Prologis accounts for about 1.0% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its 28th largest holding. Ceredex Value Advisors LLC’s holdings in Prologis were worth $48,806,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis in the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. bought a new stake in shares of Prologis during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new position in Prologis during the 4th quarter worth $30,000. Whipplewood Advisors LLC bought a new position in Prologis in the 4th quarter valued at about $34,000. Finally, Promus Capital LLC acquired a new position in shares of Prologis during the fourth quarter valued at approximately $34,000. 93.50% of the stock is currently owned by institutional investors.

Insider Transactions at Prologis

In related 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 value of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wolfe Research dropped their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. UBS Group lifted their price target on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.78.

Prologis Price Performance

Shares of Prologis stock opened at $98.42 on Wednesday. The firm has a market capitalization of $91.23 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20. The business’s 50-day moving average price is $112.53 and its 200-day moving average price is $113.68. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.10%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

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.