Tiemann Investment Advisors LLC Sells 137 Shares of Prologis, Inc. (NYSE:PLD)

Tiemann Investment Advisors LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 3.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,731 shares of the real estate investment trust’s stock after selling 137 shares during the period. Tiemann Investment Advisors LLC’s holdings in Prologis were worth $394,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after purchasing an additional 8,545,336 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Prologis during the fourth quarter valued at about $254,876,000. Janus Henderson Group PLC lifted its stake in shares of Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after buying an additional 2,138,693 shares during the period. Cardano Risk Management B.V. acquired a new stake in Prologis during the third quarter worth about $109,579,000. Finally, Jennison Associates LLC increased its stake in Prologis by 395.3% during the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock valued at $109,858,000 after acquiring an additional 829,504 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on 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 owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was 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 this link. Company insiders own 0.50% of the company’s stock.

Prologis Trading Down 0.3 %

Shares of NYSE PLD opened at $119.89 on Monday. The company has a 50-day moving average of $115.96 and a two-hundred day moving average of $117.93. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. 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 company has a market cap of $111.12 billion, a PE ratio of 29.97, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is 101.00%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLD shares. Scotiabank decreased their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Truist Financial lifted their price target on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Barclays increased their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada upped their target price on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average 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.