D.A. Davidson & CO. Sells 1,852 Shares of Prologis, Inc. (NYSE:PLD)

D.A. Davidson & CO. trimmed its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,988 shares of the real estate investment trust’s stock after selling 1,852 shares during the quarter. D.A. Davidson & CO.’s holdings in Prologis were worth $9,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Dunhill Financial LLC increased its holdings in 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 purchasing an additional 182 shares in the last quarter. Hara Capital LLC bought a new stake in Prologis in the third quarter worth approximately $48,000. Coastline Trust Co bought a new stake in Prologis in the third quarter worth approximately $52,000. Asset Planning Inc bought a new stake in Prologis in the fourth quarter worth approximately $53,000. Finally, Fortitude Family Office LLC increased its holdings in Prologis by 120.6% in 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 institutional investors.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Stock Up 0.3 %

PLD stock opened at $121.21 on Wednesday. The stock’s fifty day simple moving average is $111.82 and its two-hundred day simple moving average is $117.99. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76. The stock has a market cap of $112.26 billion, a P/E ratio of 30.30, a P/E/G ratio of 2.64 and a beta of 1.10.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.17%. Prologis’s dividend payout ratio is currently 96.00%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PLD shares. Truist Financial lifted their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Royal Bank of Canada boosted their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a report on Monday, January 27th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $120.00 to $104.00 in a report on Friday, December 6th. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $128.78.

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.