Parallel Advisors LLC Lowers Stock Position in Prologis, Inc. (NYSE:PLD)

Parallel Advisors LLC trimmed its stake in shares of Prologis, Inc. (NYSE:PLD) by 24.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,621 shares of the real estate investment trust’s stock after selling 2,740 shares during the period. Parallel Advisors LLC’s holdings in Prologis were worth $911,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cibc World Markets Corp lifted its holdings in Prologis by 11.9% during the fourth quarter. Cibc World Markets Corp now owns 411,628 shares of the real estate investment trust’s stock valued at $43,509,000 after purchasing an additional 43,928 shares in the last quarter. Arbor Capital Management Inc. ADV lifted its holdings in Prologis by 5.4% during the fourth quarter. Arbor Capital Management Inc. ADV now owns 11,829 shares of the real estate investment trust’s stock valued at $1,250,000 after purchasing an additional 611 shares in the last quarter. GWN Securities Inc. purchased a new position in Prologis during the fourth quarter valued at $1,458,000. American Assets Capital Advisers LLC lifted its holdings 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 valued at $2,554,000 after purchasing an additional 4,015 shares in the last quarter. Finally, Harbour Investments Inc. lifted its holdings 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 valued at $1,177,000 after purchasing an additional 8,025 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Prologis stock opened at $113.03 on Thursday. The company’s 50 day simple moving average is $117.31 and its 200-day simple moving average is $117.25. The company has a market capitalization of $104.77 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

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 paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.57%. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is 101.00%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Robert W. Baird increased their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Wolfe Research lowered their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. BTIG Research lowered 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 research report on Monday, January 6th. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Insider Activity

In related 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 transaction, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

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.