Private Advisor Group LLC Reduces Position in Prologis, Inc. (NYSE:PLD)

Private Advisor Group LLC reduced its holdings in Prologis, Inc. (NYSE:PLD) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,248 shares of the real estate investment trust’s stock after selling 3,294 shares during the period. Private Advisor Group LLC’s holdings in Prologis were worth $5,417,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empirical Asset Management LLC raised its holdings in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock valued at $7,249,000 after acquiring an additional 52,963 shares during the last quarter. Cardano Risk Management B.V. increased its holdings in shares of Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock valued at $94,391,000 after purchasing an additional 25,266 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Prologis by 2.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after buying an additional 29,400 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Prologis during the third quarter worth $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Prologis in the 3rd quarter valued at $7,371,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Up 0.1 %

Shares of PLD stock opened at $121.01 on Friday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a 50 day moving average price of $112.56 and a 200 day moving average price of $118.01. The stock has a market capitalization of $112.16 billion, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.34%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is currently 96.00%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PLD shares. 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 lifted their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Truist Financial increased their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Robert W. Baird lifted their price target on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Scotiabank lowered their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company’s stock.

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.