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

Wealth Alliance trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 23.0% in the fourth quarter, Holdings Channel.com reports. The fund 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 and hedge funds also recently bought and sold shares of the company. Empirical Asset Management LLC lifted 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. lifted its holdings in Prologis by 2.9% in the 4th 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 during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Prologis by 2.5% in the 3rd 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 during the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in Prologis in the 3rd quarter valued at about $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Prologis in the 3rd quarter valued at about $7,371,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 10,997 shares of the 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 transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.56% of the stock is currently owned by corporate insiders.

Prologis Trading Up 0.4 %

NYSE:PLD opened at $121.76 on Thursday. The stock’s 50 day moving average price is $112.18 and its 200 day moving average price is $117.99. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a market capitalization of $112.77 billion, a P/E ratio of 30.44, a P/E/G 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 0.23.

Prologis Dividend Announcement

The company 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. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.15%. Prologis’s dividend payout ratio is currently 96.00%.

Wall Street Analyst Weigh In

A number of analysts have commented on PLD shares. Wolfe Research reduced their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Royal Bank of Canada upped their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Scotiabank reduced their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. Mizuho reduced their price objective on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group upped their price objective 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 equities research 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

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.