Sheaff Brock Investment Advisors LLC Sells 915 Shares of Prologis, Inc. (NYSE:PLD)

Sheaff Brock Investment Advisors LLC trimmed its position in Prologis, Inc. (NYSE:PLD) by 1.1% in the 4th quarter, Holdings Channel reports. The firm owned 81,906 shares of the real estate investment trust’s stock after selling 915 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Prologis were worth $8,657,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Dunhill Financial LLC raised its position in shares of Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Hara Capital LLC bought a new position in Prologis in the 3rd quarter worth about $48,000. Coastline Trust Co purchased a new stake in shares of Prologis in the 3rd quarter valued at about $52,000. Asset Planning Inc bought a new stake in shares of Prologis during the 4th quarter valued at about $53,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Prologis by 120.6% during the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Trading Down 0.0 %

NYSE:PLD opened at $120.84 on Friday. The firm has a market capitalization of $111.92 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.64 and a beta of 1.10. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average of $111.71 and a 200 day moving average of $118.15. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.18%. Prologis’s dividend payout ratio is currently 96.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of recent analyst reports. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Mizuho lowered their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Truist Financial upped their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Robert W. Baird raised their price target on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. cut their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from 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.