Pinnacle Wealth Management Advisory Group LLC Lowers Position in Prologis, Inc. (NYSE:PLD)

Pinnacle Wealth Management Advisory Group LLC cut its position in shares of Prologis, Inc. (NYSE:PLD) by 11.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,052 shares of the real estate investment trust’s stock after selling 384 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Prologis were worth $323,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Secured Retirement Advisors LLC raised its holdings in Prologis by 24.6% in the fourth quarter. Secured Retirement Advisors LLC now owns 11,857 shares of the real estate investment trust’s stock valued at $1,253,000 after buying an additional 2,343 shares during the period. Principal Securities Inc. raised its stake in shares of Prologis by 3.8% in the 4th quarter. Principal Securities Inc. now owns 22,067 shares of the real estate investment trust’s stock valued at $2,332,000 after acquiring an additional 808 shares during the period. Montag A & Associates Inc. lifted its holdings in shares of Prologis by 109.0% during the 4th quarter. Montag A & Associates Inc. now owns 767 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 400 shares in the last quarter. Spinnaker Trust increased its holdings in Prologis by 4.1% in the 4th quarter. Spinnaker Trust now owns 49,643 shares of the real estate investment trust’s stock valued at $5,247,000 after purchasing an additional 1,971 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its position in Prologis by 0.4% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,013,203 shares of the real estate investment trust’s stock valued at $107,096,000 after purchasing an additional 3,669 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

NYSE PLD opened at $120.84 on Monday. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The company’s 50 day simple moving average is $111.71 and its 200 day simple moving average is $118.09. The firm has a market capitalization of $111.92 billion, a PE ratio of 30.21, a P/E/G ratio of 2.64 and a beta of 1.10.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.18%. Prologis’s dividend payout ratio (DPR) is 96.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PLD. BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Mizuho reduced their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Finally, Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $128.78.

Insider Buying and Selling at Prologis

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 shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by corporate insiders.

Prologis Company 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.