Whittier Trust Co. Sells 2,780 Shares of Prologis, Inc. (NYSE:PLD)

Whittier Trust Co. lowered its position in Prologis, Inc. (NYSE:PLD - Free Report) by 6.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,623 shares of the real estate investment trust's stock after selling 2,780 shares during the period. Whittier Trust Co.'s holdings in Prologis were worth $4,505,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PLD. Empirical Asset Management LLC grew its stake in shares of Prologis by 339.0% during the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock valued at $7,249,000 after purchasing an additional 52,963 shares during the period. Cardano Risk Management B.V. grew its position in Prologis by 2.9% during the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock valued at $94,391,000 after buying an additional 25,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after buying an additional 179,880 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new position in Prologis in the third quarter worth approximately $1,051,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Prologis by 1.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust's stock worth $92,048,000 after acquiring an additional 9,147 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

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Wall Street Analyst Weigh In

PLD has been the topic of a number of recent research reports. Raymond James reaffirmed a "market perform" rating on shares of Prologis in a report on Monday, February 3rd. Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Scotiabank cut their price objective on Prologis from $134.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Monday, January 27th. Baird R W upgraded shares of Prologis from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada upped their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.78.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business'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 transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares of the company's stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company's stock.

Prologis Price Performance

Shares of Prologis stock traded down $0.94 during trading on Tuesday, reaching $109.32. 3,467,062 shares of the stock traded hands, compared to its average volume of 3,692,242. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The business has a fifty day simple moving average of $117.64 and a two-hundred day simple moving average of $116.80. The company has a market capitalization of $101.32 billion, a price-to-earnings ratio of 27.33, a P/E/G ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a boost from Prologis's previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Prologis 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.