Prologis, Inc. (NYSE:PLD) Shares Sold by Private Advisor Group LLC

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

Several other hedge funds also recently added to or reduced their stakes in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares during the last quarter. Janus Henderson Group PLC raised its stake in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after acquiring an additional 2,138,693 shares in the last quarter. AMF Tjanstepension AB lifted its position in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after acquiring an additional 1,365,811 shares during the last quarter. Cardano Risk Management B.V. acquired a new position in Prologis in the third quarter valued at $109,579,000. Finally, Jennison Associates LLC grew its holdings in shares of Prologis by 395.3% during the fourth quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after purchasing an additional 829,504 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. BTIG Research reduced their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Royal Bank of Canada increased 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. Wolfe Research cut their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, UBS Group increased their price target on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Transactions at Prologis

In other 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 transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of PLD opened at $121.01 on Friday. 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 stock’s 50 day moving average is $112.56 and its two-hundred day moving average is $118.01. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The firm has a market capitalization of $112.16 billion, a PE ratio of 30.25, a P/E/G ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

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

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.