Prologis, Inc. (NYSE:PLD) Shares Sold by Whittier Trust Co.

Whittier Trust Co. cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,623 shares of the real estate investment trust’s stock after selling 2,780 shares during the period. Whittier Trust Co.’s holdings in Prologis were worth $4,505,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PLD. Pathstone Holdings LLC increased its position in shares of Prologis by 0.6% during the third quarter. Pathstone Holdings LLC now owns 99,551 shares of the real estate investment trust’s stock valued at $12,571,000 after acquiring an additional 557 shares during the last quarter. Caprock Group LLC increased its position in shares of Prologis by 1.7% during the third quarter. Caprock Group LLC now owns 14,226 shares of the real estate investment trust’s stock valued at $1,797,000 after acquiring an additional 236 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Prologis by 6.5% during the third quarter. PNC Financial Services Group Inc. now owns 478,536 shares of the real estate investment trust’s stock valued at $60,430,000 after acquiring an additional 29,015 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Prologis in the third quarter valued at approximately $700,000. Finally, Strategy Asset Managers LLC boosted its stake in shares of Prologis by 27.7% in the third quarter. Strategy Asset Managers LLC now owns 3,122 shares of the real estate investment trust’s stock valued at $394,000 after purchasing an additional 677 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLD has been the subject of several recent research reports. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Robert W. Baird raised their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Truist Financial raised 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. Wolfe Research lowered their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, UBS Group raised their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. One equities 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the business’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 completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Prologis Stock Down 0.9 %

Shares of NYSE:PLD opened at $112.01 on Friday. The company has a market capitalization of $103.81 billion, a PE ratio of 28.00, 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, Inc. has a twelve month low of $100.82 and a twelve month high of $132.57. The firm has a 50 day simple moving average of $117.44 and a 200-day simple moving average of $117.21.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Tuesday, March 18th. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is currently 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.