Oppenheimer & Co. Inc. Has $4.78 Million Holdings in Prologis, Inc. (NYSE:PLD)

Oppenheimer & Co. Inc. trimmed its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 26.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,209 shares of the real estate investment trust's stock after selling 16,510 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Prologis were worth $4,779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Schnieders Capital Management LLC boosted its position in shares of Prologis by 2.6% in the fourth quarter. Schnieders Capital Management LLC now owns 7,378 shares of the real estate investment trust's stock worth $780,000 after buying an additional 190 shares during the period. Nwam LLC boosted its position in Prologis by 11.0% during the fourth quarter. Nwam LLC now owns 3,106 shares of the real estate investment trust's stock valued at $328,000 after purchasing an additional 307 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in Prologis during the fourth quarter valued at $34,000. NewEdge Wealth LLC boosted its position in Prologis by 5.1% during the fourth quarter. NewEdge Wealth LLC now owns 30,955 shares of the real estate investment trust's stock valued at $3,272,000 after purchasing an additional 1,489 shares during the last quarter. Finally, Sabal Trust CO boosted its position in Prologis by 1.3% during the fourth quarter. Sabal Trust CO now owns 297,628 shares of the real estate investment trust's stock valued at $31,459,000 after purchasing an additional 3,943 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Performance

Shares of Prologis stock traded up $1.11 during trading on Friday, reaching $123.88. The company's stock had a trading volume of 5,562,229 shares, compared to its average volume of 3,851,597. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The business's fifty day moving average price is $114.28 and its 200-day moving average price is $118.05. The firm has a market cap of $114.82 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.26%. This is a positive change from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis's payout ratio is currently 101.00%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLD. Royal Bank of Canada lifted their price objective on Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a research report on Monday, January 27th. Scotiabank reduced their price objective on Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Monday, January 27th. BNP Paribas raised Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Truist Financial raised their target price on Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, BTIG Research cut their target price on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $128.78.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 directly owns 7,977 shares of the company's stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.