Prologis, Inc. (NYSE:PLD) Shares Sold by Pinion Investment Advisors LLC

Pinion Investment Advisors LLC lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 11.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,766 shares of the real estate investment trust’s stock after selling 342 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Prologis were worth $292,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PLD. Nicola Wealth Management LTD. raised its position in Prologis by 3.3% in the fourth quarter. Nicola Wealth Management LTD. now owns 162,545 shares of the real estate investment trust’s stock valued at $18,270,000 after purchasing an additional 5,127 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Prologis by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,402,731 shares of the real estate investment trust’s stock valued at $1,099,569,000 after buying an additional 173,531 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Prologis by 6.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,576 shares of the real estate investment trust’s stock valued at $3,126,000 after buying an additional 1,723 shares during the period. Meridian Wealth Management LLC lifted its stake in Prologis by 5.7% during the 4th quarter. Meridian Wealth Management LLC now owns 3,897 shares of the real estate investment trust’s stock worth $412,000 after acquiring an additional 209 shares in the last quarter. Finally, Sage Rhino Capital LLC boosted its holdings in Prologis by 7.1% during the 4th quarter. Sage Rhino Capital LLC now owns 2,026 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 134 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

NYSE PLD opened at $123.48 on Tuesday. The company has a fifty day moving average of $114.66 and a two-hundred day moving average of $118.00. The company has a market capitalization of $114.45 billion, a PE ratio of 30.87, a P/E/G ratio of 2.70 and a beta of 1.10. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analyst Ratings Changes

PLD has been the topic of several research reports. BTIG Research reduced their price target on shares of Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. UBS Group increased their price objective on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’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 transaction of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by corporate insiders.

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.