Orion Portfolio Solutions LLC Decreases Stake in Prologis, Inc. (NYSE:PLD)

Orion Portfolio Solutions LLC cut its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,531 shares of the real estate investment trust's stock after selling 3,944 shares during the period. Orion Portfolio Solutions LLC's holdings in Prologis were worth $8,724,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PLD. Principle Wealth Partners LLC lifted its stake in shares of Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock valued at $349,000 after purchasing an additional 92 shares during the last quarter. Black Diamond Financial LLC lifted its position in Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock valued at $449,000 after buying an additional 93 shares during the last quarter. Berkshire Bank boosted its stake in Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock worth $443,000 after buying an additional 95 shares during the period. J.Safra Asset Management Corp increased its position in shares of Prologis by 22.3% during the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust's stock valued at $59,000 after acquiring an additional 102 shares during the last quarter. Finally, Bridgewater Associates LP raised its stake in shares of Prologis by 4.0% in the 3rd quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust's stock valued at $338,000 after acquiring an additional 103 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Scotiabank cut their target price on Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Monday, January 27th. BMO Capital Markets downgraded Prologis from a "market perform" rating to an "underperform" rating and cut their price objective for the company from $120.00 to $104.00 in a report on Friday, December 6th. Mizuho lowered their target price on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Raymond James reiterated a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. Finally, Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $128.78.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by company insiders.

Prologis Stock Performance

PLD traded down $0.43 during trading on Wednesday, hitting $111.02. 972,441 shares of the stock were exchanged, compared to its average volume of 3,899,154. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $132.57. The stock has a fifty day moving average price of $117.67 and a two-hundred day moving average price of $115.98. The firm has a market capitalization of $102.90 billion, a P/E ratio of 27.75, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 18th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.64%. The ex-dividend date was Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is 101.00%.

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.