Whittier Trust Co. of Nevada Inc. Sells 2,383 Shares of Prologis, Inc. (NYSE:PLD)

Whittier Trust Co. of Nevada Inc. cut its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 10.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,962 shares of the real estate investment trust's stock after selling 2,383 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Prologis were worth $2,110,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PLD. Centricity Wealth Management LLC purchased a new stake in Prologis during the 4th quarter valued at about $30,000. Dunhill Financial LLC raised 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 valued at $33,000 after buying an additional 182 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Prologis in the 4th quarter worth $34,000. Promus Capital LLC bought a new position in shares of Prologis during the fourth quarter valued at about $34,000. Finally, Asset Planning Inc bought a new position in shares of Prologis during the fourth quarter valued at about $53,000. Institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PLD. BTIG Research reduced their price target on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Raymond James reissued a "market perform" rating on shares of Prologis in a research note on Monday, February 3rd. Baird R W upgraded Prologis from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Robert W. Baird lifted their price target on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Mizuho decreased their price objective on shares of Prologis from $119.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. One research 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $128.78.

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Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction 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 SEC, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Prologis Stock Down 0.9 %

Shares of Prologis stock traded down $0.98 during midday trading on Tuesday, hitting $109.28. The company had a trading volume of 1,504,152 shares, 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 quick ratio of 0.43 and a current ratio of 0.75. The stock has a market capitalization of $101.28 billion, a P/E ratio of 27.36, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a 50 day moving average of $117.64 and a 200 day moving average of $116.80.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.70%. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis's dividend 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.