O Shaughnessy Asset Management LLC Sells 7,370 Shares of Prologis, Inc. (NYSE:PLD)

O Shaughnessy Asset Management LLC decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,106 shares of the real estate investment trust’s stock after selling 7,370 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Prologis were worth $7,516,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PLD. Murphy & Mullick Capital Management Corp purchased a new stake in Prologis in the 4th quarter worth $26,000. Crowley Wealth Management Inc. purchased a new position in Prologis during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new stake in Prologis in the 4th quarter worth approximately $30,000. Dunhill Financial LLC raised its holdings in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 182 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of Prologis during the 4th quarter valued at approximately $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of NYSE:PLD opened at $111.49 on Wednesday. The firm’s 50 day simple moving average is $117.67 and its 200-day simple moving average is $115.98. 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, Inc. has a one year low of $100.82 and a one year high of $132.57. The firm has a market cap of $103.33 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.62%. Prologis’s payout ratio is 101.00%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PLD. Royal Bank of Canada boosted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Raymond James reaffirmed a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. UBS Group boosted their price objective on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Scotiabank decreased their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’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 in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company 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.