Oppenheimer & Co. Inc. Trims Stock Holdings in Prologis, Inc. (NYSE:PLD)

Oppenheimer & Co. Inc. decreased its position in Prologis, Inc. (NYSE:PLD) by 26.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,209 shares of the real estate investment trust’s stock after selling 16,510 shares during the period. Oppenheimer & Co. Inc.’s holdings in Prologis were worth $4,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. Dunhill Financial LLC raised its stake 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 valued at $33,000 after buying an additional 182 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Prologis during the 4th quarter valued at about $30,000. Whipplewood Advisors LLC purchased a new position in shares of Prologis during the 4th quarter valued at about $34,000. Hara Capital LLC purchased a new position in shares of Prologis during the 3rd quarter valued at about $48,000. Finally, Coastline Trust Co purchased a new position in shares of Prologis during the 3rd quarter valued at about $52,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.9 %

PLD stock opened at $123.88 on Friday. 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 12-month low of $100.82 and a 12-month high of $135.76. The stock has a market cap of $114.82 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.70 and a beta of 1.10. The business’s 50-day moving average is $114.28 and its 200 day moving average is $118.08.

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 issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.26%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’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 value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PLD shares. Robert W. Baird lifted 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. Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. BTIG Research dropped their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Mizuho dropped their target price on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $120.00 to $104.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

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.