Prologis, Inc. (NYSE:PLD) Stock Holdings Trimmed by Paragon Private Wealth Management LLC

Paragon Private Wealth Management LLC cut its position in shares of Prologis, Inc. (NYSE:PLD) by 7.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,532 shares of the real estate investment trust’s stock after selling 711 shares during the quarter. Paragon Private Wealth Management LLC’s holdings in Prologis were worth $902,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PLD. Daiwa Securities Group Inc. grew its holdings in shares of Prologis by 1.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,860,935 shares of the real estate investment trust’s stock worth $619,501,000 after acquiring an additional 85,575 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 purchasing an additional 179,880 shares during the last quarter. Simplicity Wealth LLC boosted its position in Prologis by 7.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,995 shares of the real estate investment trust’s stock valued at $211,000 after purchasing an additional 131 shares during the last quarter. Enterprise Financial Services Corp acquired a new stake in Prologis during the fourth quarter valued at $219,000. Finally, Sowell Financial Services LLC acquired a new stake in shares of Prologis in the fourth quarter worth about $1,213,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Down 0.3 %

Shares of PLD stock opened at $119.89 on Monday. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The stock has a market cap of $111.12 billion, a P/E ratio of 29.97, a price-to-earnings-growth 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. The stock has a 50 day simple moving average of $115.96 and a 200 day simple moving average of $117.93.

Prologis Increases Dividend

The business 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 of this dividend is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.37%. Prologis’s dividend payout ratio is 101.00%.

Analyst Ratings Changes

Several equities analysts recently weighed in on PLD shares. UBS Group boosted their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Truist Financial boosted their price target on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated 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 owns 7,977 shares of the company’s stock, valued at $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by company 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.