Chesapeake Wealth Management Sells 3,452 Shares of Prologis, Inc. (NYSE:PLD)

Chesapeake Wealth Management lowered its holdings in Prologis, Inc. (NYSE:PLD) by 37.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,669 shares of the real estate investment trust’s stock after selling 3,452 shares during the period. Chesapeake Wealth Management’s holdings in Prologis were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PLD. Coronation Fund Managers Ltd. acquired a new stake in Prologis in the second quarter valued at $878,000. Edgestream Partners L.P. acquired a new stake in Prologis in the second quarter valued at $241,000. Blair William & Co. IL lifted its stake in Prologis by 6.1% in the second quarter. Blair William & Co. IL now owns 30,965 shares of the real estate investment trust’s stock valued at $3,478,000 after acquiring an additional 1,779 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Prologis by 81.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 14,750 shares of the real estate investment trust’s stock valued at $1,656,000 after acquiring an additional 6,611 shares during the last quarter. Finally, Profund Advisors LLC lifted its stake in Prologis by 2.9% in the second quarter. Profund Advisors LLC now owns 14,341 shares of the real estate investment trust’s stock valued at $1,611,000 after acquiring an additional 409 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

PLD stock opened at $109.51 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The firm has a market cap of $101.43 billion, a P/E ratio of 33.09, a P/E/G ratio of 2.85 and a beta of 1.09. The company’s 50-day moving average price is $110.34 and its two-hundred day moving average price is $118.36.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 116.01%.

Analysts Set New Price Targets

PLD has been the subject of a number of recent analyst reports. Truist Financial cut their price target on shares of Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a research note on Friday. 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. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $124.00 to $123.00 in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis 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.