Red Cedar Investment Management LLC Has $1.09 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Red Cedar Investment Management LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 12.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,178 shares of the real estate investment trust’s stock after purchasing an additional 927 shares during the quarter. Red Cedar Investment Management LLC’s holdings in Prologis were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLD. Cambridge Investment Research Advisors Inc. boosted its stake in Prologis by 5.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 78,909 shares of the real estate investment trust’s stock worth $8,854,000 after purchasing an additional 3,852 shares during the period. FinTrust Capital Advisors LLC boosted its position in shares of Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 232 shares during the period. Raymond James & Associates grew its holdings in shares of Prologis by 4.5% during the third quarter. Raymond James & Associates now owns 916,284 shares of the real estate investment trust’s stock valued at $102,816,000 after buying an additional 39,832 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Prologis by 10.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 214,352 shares of the real estate investment trust’s stock valued at $24,052,000 after buying an additional 20,536 shares during the period. Finally, Simon Quick Advisors LLC lifted its stake in Prologis by 12.6% in the 3rd quarter. Simon Quick Advisors LLC now owns 1,938 shares of the real estate investment trust’s stock worth $217,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock traded up $1.36 on Friday, reaching $105.89. The stock had a trading volume of 3,517,673 shares, compared to its average volume of 4,890,799. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The business’s 50-day moving average price is $122.11 and its two-hundred day moving average price is $121.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market cap of $98.04 billion, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.96 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays dropped their target price on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Morgan Stanley boosted their price target on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Evercore ISI cut their price objective on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a report on Thursday, April 18th. Finally, Robert W. Baird reduced their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $132.35.

About Prologis

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.