Prologis, Inc. (NYSE:PLD) Shares Sold by Wealth Alliance

Wealth Alliance cut its stake in Prologis, Inc. (NYSE:PLD) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,213 shares of the real estate investment trust’s stock after selling 3,939 shares during the period. Wealth Alliance’s holdings in Prologis were worth $1,397,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Empirical Asset Management LLC raised its holdings in Prologis by 339.0% in the fourth 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 in the last quarter. Cardano Risk Management B.V. raised its holdings in 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 acquiring an additional 25,266 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Prologis by 2.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after acquiring an additional 29,400 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in Prologis in the third quarter valued at $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Prologis in the third quarter valued at $7,371,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLD has been the topic of several recent analyst reports. Truist Financial upped their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a report on Monday, January 27th. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, UBS Group boosted their target price on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were 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 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 document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Prologis Stock Performance

PLD stock opened at $121.76 on Thursday. The company has a market capitalization of $112.77 billion, a P/E ratio of 30.44, a PEG ratio of 2.70 and a beta of 1.10. The company has a 50-day simple moving average of $112.18 and a 200 day simple moving average of $117.99. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s payout ratio is currently 96.00%.

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.