Cwm LLC Sells 1,165 Shares of Prologis, Inc. (NYSE:PLD)

Cwm LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,046 shares of the real estate investment trust’s stock after selling 1,165 shares during the period. Cwm LLC’s holdings in Prologis were worth $2,220,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in Prologis by 0.7% during the third quarter. Northern Trust Corp now owns 12,721,262 shares of the real estate investment trust’s stock valued at $1,427,453,000 after acquiring an additional 92,036 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Prologis by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after buying an additional 365,904 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Prologis by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock valued at $1,642,997,000 after buying an additional 123,902 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Prologis by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock valued at $1,268,992,000 after buying an additional 175,276 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Prologis by 0.9% in the third quarter. Ameriprise Financial Inc. now owns 8,981,242 shares of the real estate investment trust’s stock valued at $1,008,898,000 after buying an additional 76,605 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLD has been the subject of several research reports. Barclays reduced their target price on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. JPMorgan Chase & Co. reduced their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada reduced their target price on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. The Goldman Sachs Group reduced their target price on shares of Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Mizuho reduced their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $129.76.

Prologis Stock Performance

NYSE PLD opened at $110.05 on Thursday. The firm has a market cap of $101.89 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 2.48 and a beta of 1.07. The company has a 50 day moving average of $108.34 and a 200-day moving average of $122.29. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Monday, June 17th. Prologis’s payout ratio is 112.28%.

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.