Moran Wealth Management LLC Sells 143,723 Shares of Prologis, Inc. (NYSE:PLD)

Moran Wealth Management LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 75.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 45,640 shares of the real estate investment trust’s stock after selling 143,723 shares during the quarter. Moran Wealth Management LLC’s holdings in Prologis were worth $4,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PLD. Centricity Wealth Management LLC bought a new stake in shares of Prologis during the 4th quarter worth $30,000. Dunhill Financial LLC raised its stake in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in Prologis during the 4th quarter valued at $34,000. Promus Capital LLC acquired a new position in Prologis during the 4th quarter valued at $34,000. Finally, Coastline Trust Co acquired a new position in Prologis during the 3rd quarter valued at $52,000. 93.50% of the stock is owned by institutional investors.

Insider Buying and Selling

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 sale, 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 SEC, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Prologis Trading Down 1.6 %

Shares of Prologis stock opened at $117.97 on Tuesday. The stock has a market capitalization of $109.34 billion, a P/E ratio of 29.49, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company has a 50-day simple moving average of $116.22 and a 200 day simple moving average of $117.87. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.42%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is 101.00%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PLD shares. Robert W. Baird upped their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Truist Financial upped their target price on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, BTIG Research cut 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Company 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.