CIBC Private Wealth Group LLC Has $272.64 Million Stake in Prologis, Inc. (NYSE:PLD)

CIBC Private Wealth Group LLC increased its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 59.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,584,288 shares of the real estate investment trust's stock after acquiring an additional 964,454 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.28% of Prologis worth $272,642,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principle Wealth Partners LLC increased its holdings 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 acquiring an additional 92 shares during the period. Black Diamond Financial LLC raised its position in shares of Prologis by 2.2% during the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust's stock worth $449,000 after purchasing an additional 93 shares during the last quarter. Berkshire Bank boosted its stake in shares of Prologis by 2.3% during the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust's stock valued at $443,000 after acquiring an additional 95 shares during the last quarter. J.Safra Asset Management Corp raised its holdings in Prologis by 22.3% in the 4th 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 increased its stake in shares of Prologis by 4.0% during 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 last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Remove Ads

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the company's 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 sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by insiders.

Prologis Stock Down 0.3 %

Shares of PLD stock traded down $0.30 during trading on Tuesday, reaching $111.49. The company's stock had a trading volume of 3,359,860 shares, compared to its average volume of 3,925,995. Prologis, Inc. has a one year low of $100.82 and a one year high of $132.57. The company has a market cap of $103.33 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth 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 business has a fifty day moving average price of $117.78 and a 200-day moving average price of $116.11.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio (DPR) is 101.00%.

Analysts Set New Price Targets

Several research analysts recently commented on PLD shares. Royal Bank of Canada boosted their price target on Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Monday, January 27th. BNP Paribas raised Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Wolfe Research decreased their price target on Prologis from $135.00 to $128.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Raymond James restated a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. Finally, Baird R W upgraded 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.