Schechter Investment Advisors LLC Sells 1,197 Shares of Prologis, Inc. (NYSE:PLD)

Schechter Investment Advisors LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,593 shares of the real estate investment trust’s stock after selling 1,197 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Prologis were worth $1,014,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its position in Prologis by 1.4% during the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock valued at $7,250,157,000 after acquiring an additional 767,609 shares in the last quarter. Geode Capital Management LLC raised its position in Prologis by 0.9% during the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock valued at $2,612,395,000 after acquiring an additional 194,472 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Prologis by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock valued at $1,291,743,000 after acquiring an additional 441,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after acquiring an additional 8,545,336 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Prologis by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,972,246 shares of the real estate investment trust’s stock valued at $631,266,000 after purchasing an additional 32,644 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction 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 sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Down 0.4 %

PLD opened at $123.48 on Tuesday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The firm’s fifty day moving average price is $114.66 and its two-hundred day moving average price is $118.00. The company has a market capitalization of $114.45 billion, a P/E ratio of 30.87, a P/E/G ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.27%. This is an increase from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is currently 101.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $120.00 to $104.00 in a research report on Friday, December 6th. Scotiabank dropped their price target on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Raymond James reissued a “market perform” rating on shares of Prologis in a research report on Monday, February 3rd. Finally, BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.78.

Prologis 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.