Pasadena Private Wealth LLC Cuts Stock Position in Prologis, Inc. (NYSE:PLD)

Pasadena Private Wealth LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 19.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,636 shares of the real estate investment trust’s stock after selling 645 shares during the period. Pasadena Private Wealth LLC’s holdings in Prologis were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dunhill Financial LLC raised its position in 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 buying an additional 182 shares during the last quarter. Hara Capital LLC acquired a new position in shares of Prologis during the third quarter worth about $48,000. Coastline Trust Co purchased a new position in Prologis during the third quarter worth about $52,000. Asset Planning Inc acquired a new stake in Prologis in the fourth quarter valued at about $53,000. Finally, Fortitude Family Office LLC lifted its position in Prologis by 120.6% in the third quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PLD shares. Wolfe Research cut their target price on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Royal Bank of Canada increased their price objective on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Mizuho cut their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Scotiabank reduced their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

Prologis stock opened at $121.21 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The stock has a fifty day moving average of $111.98 and a two-hundred day moving average of $117.97. The company has a market capitalization of $112.26 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.64 and a beta of 1.10.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.17%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 96.00%.

Insider Buying and Selling at Prologis

In other Prologis 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 sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by insiders.

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.