Tandem Capital Management Corp ADV Sells 277 Shares of Prologis, Inc. (NYSE:PLD)

Tandem Capital Management Corp ADV reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,217 shares of the real estate investment trust’s stock after selling 277 shares during the quarter. Prologis accounts for 1.7% of Tandem Capital Management Corp ADV’s holdings, making the stock its 18th biggest holding. Tandem Capital Management Corp ADV’s holdings in Prologis were worth $2,695,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PLD. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Prologis during the 3rd quarter worth $185,164,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Prologis by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after purchasing an additional 1,034,211 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Prologis by 43.0% in the third quarter. Envestnet Asset Management Inc. now owns 2,402,293 shares of the real estate investment trust’s stock valued at $269,561,000 after buying an additional 721,910 shares in the last quarter. Barclays PLC boosted its stake in Prologis by 23.0% in the third quarter. Barclays PLC now owns 2,809,487 shares of the real estate investment trust’s stock valued at $315,253,000 after buying an additional 525,171 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in Prologis by 89.8% in the third quarter. Schroder Investment Management Group now owns 1,004,732 shares of the real estate investment trust’s stock valued at $112,741,000 after buying an additional 475,229 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on PLD shares. Barclays reduced their price objective on Prologis from $141.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday. Royal Bank of Canada raised their price objective on Prologis from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Robert W. Baird lifted their price target on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research note on Tuesday, January 23rd. Finally, Morgan Stanley lifted their price target on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.24.

Prologis Trading Up 0.2 %

PLD stock traded up $0.17 during mid-day trading on Thursday, reaching $103.35. The company’s stock had a trading volume of 3,798,273 shares, compared to its average volume of 3,476,304. The company has a market cap of $95.60 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00. The business’s 50 day moving average price is $125.65 and its 200 day moving average price is $121.90. The company has a current ratio of 0.08, a quick ratio of 0.30 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a $0.96 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s payout ratio is presently 112.28%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.