Cibc World Markets Corp Has $43.51 Million Holdings in Prologis, Inc. (NYSE:PLD)

Cibc World Markets Corp raised its position in shares of Prologis, Inc. (NYSE:PLD) by 11.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 411,628 shares of the real estate investment trust’s stock after purchasing an additional 43,928 shares during the quarter. Cibc World Markets Corp’s holdings in Prologis were worth $43,509,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Arbor Capital Management Inc. ADV grew its holdings in Prologis by 5.4% during the 4th quarter. Arbor Capital Management Inc. ADV now owns 11,829 shares of the real estate investment trust’s stock worth $1,250,000 after acquiring an additional 611 shares during the period. GWN Securities Inc. acquired a new stake in Prologis during the fourth quarter worth approximately $1,458,000. American Assets Capital Advisers LLC grew its stake in Prologis by 19.9% during the fourth quarter. American Assets Capital Advisers LLC now owns 24,159 shares of the real estate investment trust’s stock worth $2,554,000 after purchasing an additional 4,015 shares during the period. Harbour Investments Inc. grew its stake in Prologis by 257.7% during the fourth quarter. Harbour Investments Inc. now owns 11,139 shares of the real estate investment trust’s stock worth $1,177,000 after purchasing an additional 8,025 shares during the period. Finally, one8zero8 LLC acquired a new stake in shares of Prologis during the 4th quarter worth approximately $1,384,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Royal Bank of Canada raised their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research note on Monday, January 27th. Mizuho reduced their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Truist Financial raised their target price on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Robert W. Baird raised their price objective on Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Insider Activity at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by company insiders.

Prologis Price Performance

Shares of NYSE PLD opened at $111.98 on Monday. The stock’s 50 day moving average price is $116.89 and its 200-day moving average price is $117.46. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The company has a market capitalization of $103.79 billion, a PE ratio of 28.00, a PEG ratio of 2.70 and a beta of 1.09.

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 paid a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 3.61%. Prologis’s dividend payout ratio is presently 101.00%.

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.