Oppenheimer Asset Management Inc. Decreases Stock Position in Prologis, Inc. (NYSE:PLD)

Oppenheimer Asset Management Inc. decreased its position in shares of Prologis, Inc. (NYSE:PLD) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,711 shares of the real estate investment trust’s stock after selling 1,230 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Prologis were worth $3,669,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PLD. Centricity Wealth Management LLC bought a new position in Prologis during the fourth quarter valued at approximately $30,000. Dunhill Financial LLC raised its holdings in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares in the last quarter. Whipplewood Advisors LLC bought a new position in shares of Prologis during the 4th quarter valued at approximately $34,000. Hara Capital LLC purchased a new position in shares of Prologis in the third quarter valued at $48,000. Finally, Coastline Trust Co bought a new stake in Prologis in the third quarter worth $52,000. 93.50% of the stock is owned by institutional investors.

Prologis Stock Up 0.9 %

Shares of PLD opened at $123.88 on Friday. The firm has a fifty day moving average price of $114.28 and a 200-day moving average price of $118.05. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $114.82 billion, a P/E ratio of 30.97, a P/E/G ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.26%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PLD shares. Mizuho lowered their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BTIG Research lowered their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Truist Financial upped their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’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 value of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Company 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.