SVB Wealth LLC Acquires Shares of 8,867 Prologis, Inc. (NYSE:PLD)

SVB Wealth LLC bought a new position in shares of Prologis, Inc. (NYSE:PLD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,867 shares of the real estate investment trust’s stock, valued at approximately $937,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dunhill Financial LLC raised its position in shares of Prologis by 239.5% during the third 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 during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Prologis during the fourth quarter worth $30,000. Whipplewood Advisors LLC bought a new stake in shares of Prologis during the fourth quarter worth $34,000. Hara Capital LLC bought a new stake in Prologis in the third quarter valued at about $48,000. Finally, Coastline Trust Co bought a new stake in Prologis in the third quarter valued at about $52,000. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In other 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 completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

Prologis Stock Down 0.4 %

PLD stock opened at $123.48 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The stock has a market capitalization of $114.45 billion, a P/E ratio of 30.87, a P/E/G ratio of 2.70 and a beta of 1.10. The business has a 50-day moving average of $114.66 and a 200-day moving average of $118.00. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76.

Prologis Increases Dividend

The company 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. This is a boost from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio is currently 101.00%.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of recent analyst reports. Robert W. Baird upped their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Truist Financial upped their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Royal Bank of Canada upped 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. Finally, BTIG Research dropped their price objective on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $128.78.

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.