Wealth Alliance reduced its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 23.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sunpointe LLC grew its stake in shares of Prologis by 10.7% in the 4th quarter. Sunpointe LLC now owns 2,429 shares of the real estate investment trust's stock valued at $257,000 after purchasing an additional 235 shares during the period. Ieq Capital LLC grew its position in Prologis by 0.3% in the fourth quarter. Ieq Capital LLC now owns 34,703 shares of the real estate investment trust's stock valued at $3,668,000 after acquiring an additional 103 shares during the period. TKG Advisors LLC raised its stake in Prologis by 0.8% during the fourth quarter. TKG Advisors LLC now owns 20,299 shares of the real estate investment trust's stock worth $2,146,000 after acquiring an additional 153 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Prologis by 1.6% during the fourth quarter. Global Retirement Partners LLC now owns 17,153 shares of the real estate investment trust's stock valued at $1,813,000 after acquiring an additional 263 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Prologis in the 4th quarter valued at $229,000. Institutional investors own 93.50% of the company's stock.
Insider Buying and Selling
In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction 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 completion of the sale, the executive now owns 7,977 shares of the company's stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.
Prologis Stock Performance
Shares of PLD traded up $0.29 during midday trading on Monday, reaching $121.26. The stock had a trading volume of 1,163,747 shares, compared to its average volume of 3,847,688. The firm has a market cap of $112.39 billion, a PE ratio of 30.34, a P/E/G ratio of 2.70 and a beta of 1.10. The firm has a 50 day simple moving average of $112.56 and a 200-day simple moving average of $117.99. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.
Prologis Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid 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 dividend yield of 3.33%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis's payout ratio is currently 96.00%.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. BNP Paribas upgraded shares of Prologis to a "strong-buy" rating in a research report on Wednesday, January 22nd. Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets downgraded Prologis from a "market perform" rating to an "underperform" rating and dropped their price objective for the company from $120.00 to $104.00 in a report on Friday, December 6th. Baird R W upgraded shares of Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Finally, Scotiabank decreased their price target on shares of Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $128.78.
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Prologis Profile
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Free Report)
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.
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