Parallel Advisors LLC Sells 2,740 Shares of Prologis, Inc. (NYSE:PLD)

Parallel Advisors LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 24.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,621 shares of the real estate investment trust's stock after selling 2,740 shares during the period. Parallel Advisors LLC's holdings in Prologis were worth $911,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new stake in shares of Prologis in the fourth quarter valued at $30,000. Dunhill Financial LLC grew its holdings in Prologis by 239.5% during the 3rd 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. Whipplewood Advisors LLC acquired a new stake in Prologis in the 4th quarter valued at about $34,000. Promus Capital LLC bought a new position in shares of Prologis in the fourth quarter worth about $34,000. Finally, Asset Planning Inc acquired a new position in shares of Prologis during the fourth quarter worth approximately $53,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Up 1.8 %

Prologis stock traded up $1.93 during mid-day trading on Monday, hitting $110.35. 5,379,410 shares of the company's stock were exchanged, compared to its average volume of 3,697,321. The firm has a market capitalization of $102.28 billion, a P/E ratio of 27.59, a PEG ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The company's 50 day simple moving average is $117.54 and its 200-day simple moving average is $116.92. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $132.57.

Remove Ads

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This is an increase from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a yield of 3.66%. The ex-dividend date is Tuesday, March 18th. Prologis's dividend payout ratio (DPR) is 101.00%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PLD shares. Baird R W raised shares of Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. BNP Paribas raised Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Scotiabank cut their price target on Prologis from $134.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Monday, January 27th. BMO Capital Markets lowered Prologis from a "market perform" rating to an "underperform" rating and lowered their price objective for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Finally, UBS Group boosted their price objective on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $128.78.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the 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 owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by company insiders.

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.