Sage Mountain Advisors LLC Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Sage Mountain Advisors LLC cut its position in Prologis, Inc. (NYSE:PLD) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PLD. Empirical Asset Management LLC boosted its stake in Prologis by 339.0% during the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. lifted its stake in shares of Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Prologis during the third quarter worth about $1,051,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Prologis during the 3rd quarter valued at about $7,371,000. Finally, Cumberland Partners Ltd acquired a new stake in Prologis in the 3rd quarter valued at about $1,566,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Prologis

In other 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Raymond James restated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $120.00 to $104.00 in a report on Friday, December 6th. Finally, UBS Group upped their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Down 0.4 %

NYSE:PLD opened at $117.39 on Wednesday. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.27. The stock’s fifty day moving average is $116.45 and its two-hundred day moving average is $117.79. The stock has a market capitalization of $108.81 billion, a price-to-earnings ratio of 29.35, 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.

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 paid a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.44%. Prologis’s dividend payout ratio is presently 101.00%.

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.