Prologis, Inc. (NYSE:PLD) Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC increased its position in shares of Prologis, Inc. (NYSE:PLD) by 59.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,584,288 shares of the real estate investment trust’s stock after purchasing an additional 964,454 shares during the period. CIBC Private Wealth Group LLC owned 0.28% of Prologis worth $272,642,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp acquired a new position in shares of Prologis during the 4th quarter worth about $26,000. Dunhill Financial LLC lifted its stake in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the last quarter. Crowley Wealth Management Inc. acquired a new position in Prologis in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in Prologis in the fourth quarter valued at approximately $30,000. Finally, Promus Capital LLC acquired a new stake in Prologis during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis 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 completion of the sale, the executive now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Prologis Trading Down 0.3 %

Prologis stock opened at $110.37 on Friday. The stock has a 50-day moving average price of $117.74 and a 200 day moving average price of $116.34. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The stock has a market cap of $102.29 billion, a PE ratio of 27.59, a P/E/G ratio of 2.70 and a beta of 1.09. 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 company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.66%. Prologis’s payout ratio is 101.00%.

Analysts Set New Price Targets

PLD has been the subject of several research analyst reports. Wolfe Research lowered their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Truist Financial upped their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Robert W. Baird lifted their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, UBS Group lifted their target price on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have assigned 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

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.